30 September 2016

WEEKLY BULLION OUTLOOK FOR 30SEP-07 OCT 2016

WEEKLY CALL UPDATE:
GOLD HIT TGT 31350 MADE HIGH OF 31350 !!!
CRUDEOIL HIT TGT 3120 MADE HIGH OF 3285!!!
"SELL GOLD OCT @ 31100 SL 31380 TGT 30920-30750."
"SELL SILVER DEC @ 45800 SL 46240 TGT 45420-45040"
FOR MORE ROCKING CALLS FILL UP THE FORM GIVEN HERE>>>>>
Gold:  Gold trading range for the day is 30780-31126. Gold prices dropped as the dollar firmed and investors assessed Federal Reserve Chair Janet Yellen's testimony before a Congressional committee. The Fed is considering changing the annual stress tests it gives to U.S. banks to see if they can withstand a massive financial crisis, Yellen said. The Fed's chair did not comment on the outlook for the economy or monetary policy .
Outlook: Technically market is under long liquidation as market has witnessed drop in open interest by -10.06% to settled at 6141 while prices down -350 rupee, now Gold is getting support at 30869 and below same could see a test of 30761 level, And resistance is now likely to be seen at 31178, a move above could see prices testing 31379.
           
R2
R1
S1
S2
TREND
GOLD
31390
31250
31100
31000
SIDEWAYS
Silver:  Silver trading range for the day is 45040-45972. Silver rose as Fed Chair Janet Yellen avoided a hard timeline for a rate hike, though a colleague did suggest the topic was

29 September 2016

TECHNICAL ANALYSIS OF BULLION FOR 29-30 SEP 2016

SELL GOLD OCT @ 31100 SL 31380 TGT 30920-30750. MCX

SELL SILVER DEC @ 45900 SL 46240 TGT 45420-45040. MCX

Gold:  Gold trading range for the day is 30780-31126. Silver rose as Fed Chair Janet Yellen avoided a hard timeline for a rate hike, though a colleague did suggest the topic was up for discussion in November. Fed’s Evans said that raising rates because of financial stability concerns could leave the U.S. central bank less able to reach its inflation target. Holdings at ishares silver trust dropped by 0.44% i.e. 50.02 tonnes to 11287.75 tonnes from 11337.95 tonnes.

Outlook: Technically market is getting support at 30867 and below same could see a test of 30780 level, And resistance is now likely to be seen at 31040, a move above could see prices testing 31126.
           
R2
R1
S1
S2
TREND
GOLD
31250
31150
30950
30850
BEARISH
Silver:  Silver trading range for the day is 45040-45972. Silver rose as Fed Chair Janet Yellen avoided a hard timeline for a rate hike, though a colleague did suggest the topic was up for discussion in November .Fed’s Evans said that raising rates because of financial stability concerns could leave the U.S. central bank less able to reach its inflation target. Holdings at ishares silver trust dropped by 0.44% i.e. 50.02 tonnes to 11287.75 tonnes from 11337.95 tonnes.
Outlook:  Technically now Silver is getting support at 45312 and below same could see a test of 45040 level, And resistance is now likely to be seen at 45778, a move above could see prices testing 45972.
           
R2
R1
S1
S2
TREND
SILVER
46200
46000
45600
45300
BEARISH

28 September 2016

TECHNICAL ANALYSIS OF BULLION FOR 29 SEP 2016

SELL GOLD OCT @ 31100 SL 31380 TGT 30920-30750. MCX

SELL SILVER DEC @ 45800 SL 46240 TGT 45420-45040. MCX

Gold:  Gold trading range for the day is 30761-31379. Gold dropped as dollar and stocks gained ground on the view that U.S. presidential candidate Hillary Clinton got the better of rival. U.S. single-family home prices rose slightly less than expected on an annual basis in July, and the year-over-year gain was smaller. SPDR gold trust holdings dropped by 0.22% i.e. 2.08 tonnes to 949.14 tonnes from 951.22 tonnes.

Outlook: Technically market is under long liquidation as market has witnessed drop in open interest by -10.06% to settled at 6141 while prices down -350 rupee, now Gold is getting support at 30869 and below same could see a test of 30761 level, And resistance is now likely to be seen at 31178, a move above could see prices testing 31379
           
R2
R1
S1
S2
TREND
GOLD
31150
31100
30900
30800
BULLISH
Silver:  Silver trading range for the day is 44675-46857. Silver dropped as market sentiment improved amid the view that U.S. presidential candidate Hillary Clinton did better than her rival Donald Trump in debate. The Federal Reserve held off on raising interest rates and scaled back the number of rate hikes it expects next year. U.S. consumer

27 September 2016

TECHNICAL ANALYSIS OF BULLION FOR 28 SEP 2016

YETERDAY’S CALL UPDATE:
SILVER HIT TGT 46550 MADE HIGH OF 46783!!!

BUY GOLD OCT @ 31150 SL 31000 TGT 31350-31550

SELL SILVER DEC @ 46250 SL 46000 TGT 46500-46700

Gold:  Gold trading range for the day is 31157-31435. Gold prices remained in range as investors squared positions ahead of debate between Donald Trump and Hillary Clinton. The Federal Reserve held off on raising interest rates and scaled back the number of rate hikes it expects next year. Russia and Kazakhstan continued to boost their gold reserves in August, data from the International Monetary Fund showed.

Outlook:  Technically market is under short covering and getting support at 31242 and below same could see a test of 31157 level, And resistance is now likely to be seen at 31381, a move above could see prices testing 31435.
           
R2
R1
S1
S2
TREND
GOLD
31390
31310
31100
31000
BULLISH

Silver:  Silver trading range for the day is 46047-47027. Silver dropped with focus switching to a U.S. presidential debate which could prove a key pointer to the outcome of November's election. New U.S. single-family home sales posted their biggest decline in nearly a year in August after soaring to nine-year highs the month before. Uncertainty gripped as investors braced for a potentially pivotal U.S. presidential debate by shunning stocks while favouring safe haven assets.

Outlook:  Technically market is getting support at 46274 and below same could see a test of 46047 level, And resistance is now likely to be seen at 46764, a move above could see prices testing 47027.

           
R2
R1
S1
S2
TREND
SILVER
46800
46450
46200
46000
BULLISH

26 September 2016

BULLION OUTLOOK OF 26-27 SEP 2016

BUY SILVER DEC @ 46400 SL 46250 TGT 46550-46800.MCX

BUY GOLD OCT @ 31300 SL 31000 TGT 31400-31480.MCX



Gold:  Gold trading range for the day is 31134-31424. Gold prices settled flat but ended with gains on weekly basis after Fed sounded a cautious note on the pace of interest rate hikes. In India, discount over the global spot gold benchmark narrowed to $12 an ounce, from $20 last week. Asian physical gold demand remained subdued in the week ahead of a national holiday in China.
Outlook: Technically market is under long liquidation as market has witnessed drop in open interest by -6.2% to settled at 6841 while prices down -51 rupee, now Gold is getting support at 31208 and below same could see a test of 31134 level, And resistance is now likely to be seen at 31353, a move above could see prices testing 31424.
           
R2
R1
S1
S2
TREND
GOLD
31390
31310
31200
31000
BULLISH
Silver:  Silver trading range for the day is 46244-47702. Silver dropped as investors chose to lock in profits after gains seen as the Fed’s decision to leave interest rates unchanged continued to support. Boston Fed President Eric Rosengren said that he believed interest rates should be raised gradually now. Holdings at ishares silver trust gained by 0.29% i.e. 32.48 tonnes to 11337.95 tonnes from 11305.47 tonnes.
Outlook:  Technically market is under long liquidation as market has witnessed drop in open interest by -7.89% to settled at 8146, now Silver is getting support at 46531 and below same could see a test of 46244 level, And resistance is now likely to be seen at 47260, a move above could see prices testing 47702.
           
R2
R1
S1
S2
TREND
SILVER
47000
46600
46300
46100
BULLISH

23 September 2016

COMMODITY OUTLOOK OF 23-30 SEP 2016

YETERDAY’S CALL UPDATE:
GOLD HIT TGT 31350 MADE HIGH OF 31379 !!!
SILVER HIT TGT 47380 MADE HIGH OF 47635!!!

"BUY GOLD OCT @ 31200 SL 31050 TGT 31350-31550."

"BUY SILVER DEC @ 47200 SL 46550 TGT 47500 -47600."

"BUY CRUDE OIL OCT @ 3030 SL 2990 TGT 3080-3120."

Gold: Gold trading range for the day is 31067-31513.Oct. Gold prices couldn’t sustain at its intraday highs at 31295 levels. If the weakness persists then prices will correct further towards support between 31130—31100 zones. Intraday reversals from these zones can be bought into by traders. A re-test of 30800 levels will be seen only on a break down below 31000 levels.
Outlook: Technically market is under fresh buying and getting support at 31200 and below same could see a test of 31067 level, And resistance is now likely to be seen at 31423, a move above could see prices testing 31513.
           
R2
R1
S1
S2
TREND
GOLD
31425
31300
31200
31000
BULLISH
Silver:  Silver trading range for the day is 46859-47989.Dec. Silver prices needs to sustain above 47350 levels for the rally to advance towards next upside target around 47694 levels. Immediate support on dips is seen around 47050 levels below which prices will correct towards 46930/46650 levels. The broader view for the counter stays positive until 46000 levels holds on dips
Outlook:  Technically market is under fresh buying as market has witnessed gain in open interest by 8.1% to settled at 8844 while prices up 399 rupee, now Silver is getting support at 47213 and below same could see a test of 46859 level, And resistance is now likely to be seen at 47778, a move above could see prices testing 47989.
           
R2
R1
S1
S2
TREND
SILVER
47650
47350
47000
46900
BULLISH
CRUDEOIL: Crudeoil trading range for the day is 3042-3140.We expect the current rally in Oct. Crude oil prices to extend up to 3100—3115 areas. Fresh selling is likely to come in as prices approach higher levels. Thus, day traders can look to open short positions as prices approach resistance areas. Any major downside though will be seen only on a break down below 3000
Outlook : Technically market is under short covering and getting support at 3071 and below same could see a test of 3042 level, And resistance is now likely to be seen at 3120, a move above could see prices testing 3140.
           
R2
R1
S1
S2
TREND
CRUDEOIL
3150
3120
3040
3010
SIDEWAYS