30 November 2016

BULLION OUTLOOK FOR 01 DEC 2016

Gold:  On hourly chart, MCX Gold prices are trading below its Horizontal Trend line. Moreover, MCX Gold prices are trading below its 21 HEMA which suggest short term trend remains down. Moreover, Momentum Indicator RSI is trading below 50 levels on hourly time frame which indicates negative momentum to the prices. For now we expect prices should move lower towards 28200 levels in the coming trading sessions.
Outlook: Technically market is under fresh buying as market has witnessed gain in open interest by 1.39% to settled at 7066 while prices up 381 rupee, now Gold is getting support at 28500 and below same could see a test of 28000 level, And resistance is now likely to be seen at 28900, a move above could see prices testing 29300.
           
R2
R1
S1
S2
TREND
GOLD
29300
28900
28500
28000
SIDEWAYS
Silver: On hourly chart, MCX Silver prices are trading in Falling wedge pattern & are expected to break on the higher side. Furthermore, on COMEX Silver Prices has completed Bullish White Swan Harmonic pattern at $16.30 levels. In Addition, MCX Silver prices are trading above its 21 HEMA on hourly time frame which indicates positive momentum to the prices. For now we expect prices to move higher towards 41100 levels in few trading sessions.
Outlook:  Technically market is under short covering as market has witnessed drop in open interest by -6.46% to settled at 12883, now Silver is getting support at 40500 and below same could see a test of 40000 level, And resistance is now likely to be seen at 41000, a move above could see prices testing 41500.
           
R2
R1
S1
S2
TREND
SILVER
41500
41000
40500
40000
SIDEWAYS

29 November 2016

TECHNICAL BULLION OUTLOOK FOR 29-30 NOV 2016

Gold Outlook: On hourly chart, MCX Gold prices are trading below its Horizontal Trend line. Moreover, MCX Gold prices are trading below its 21 HEMA which suggest short term trend remains down. Moreover, Momentum Indicator RSI is trading below 50 levels on hourly time frame which indicates negative momentum to the prices. For now we expect prices should move lower towards 28200 levels in the coming trading sessions.
           
R2
R1
S1
S2
TREND
GOLD
28950
28850
28650
28500
SIDEWAYS
Silver Outlook:  On hourly chart, MCX Silver prices are trading in Falling wedge pattern & are expected to break on the higher side. Furthermore, on COMEX Silver Prices has completed Bullish White Swan Harmonic pattern at $16.30 levels. In Addition, MCX Silver prices are trading above its 21 HEMA on hourly time frame which indicates positive momentum to the prices. For now we expect prices to move higher towards 41100 levels in few trading sessions.
           
R2
R1
S1
S2
TREND
SILVER
41000
40900
40500
40200
SIDEWAYS

28 November 2016

BULLION OUTLOOK FOR 28-29 NOV 2016

Gold:  On hourly chart, MCX Gold prices are trading below its Horizontal Trend line. Moreover, MCX Gold prices are trading below its 21 HEMA which suggest short term trend remains down. Moreover, Momentum Indicator RSI is trading below 50 levels on hourly time frame which indicates negative momentum to the prices. For now we expect prices should move lower towards 28200 levels in the coming trading sessions.
Outlook: Technically market is under fresh buying as market has witnessed gain in open interest by 1.39% to settled at 7066 while prices up 381 rupee, now Gold is getting support at 30448 and below same could see a test of 30231 level, And resistance is now likely to be seen at 30784, a move above could see prices testing 30903.
           
R2
R1
S1
S2
TREND
GOLD
29700
29000
28500
28000
SIDEWAYS
Silver: On hourly chart, MCX Silver prices are trading in Falling wedge pattern & are expected to break on the higher side. Furthermore, on COMEX Silver Prices has completed Bullish White Swan Harmonic pattern at $16.30 levels. In Addition, MCX Silver prices are trading above its 21 HEMA on hourly time frame which indicates positive momentum to the prices. For now we expect prices to move higher towards 41100 levels in few trading sessions.
Outlook:  Technically market is under short covering as market has witnessed drop in open interest by -6.46% to settled at 12883, now Silver is getting support at 43722 and below same could see a test of 43365 level, And resistance is now likely to be seen at 44318, a move above could see prices testing 44557.
           
R2
R1
S1
S2
TREND
SILVER
41500
41000
40500
40000
SIDEWAYS

25 November 2016

WEEKLY BULLION OUTLOOK FOR 28 NOV 02 DEC 2016

yesterday’s CALL UPDATE:
GOLD HIT all TGT 28650 MADE HIGH OF 28386 !!!
silver HIT all TGT 39850 MADE HIGH OF 39860!!!

SELL GOLD DEC @ 28800 SL 29000 TGT 28620-28500.

SELL SILVER DEC @ 40600 SL 40850 TGT 40280-39850.

Gold:  Gold trading range for the day is 28562-28882. Gold fell as the dollar strengthened on growing expectations of Fed rate hike in December following positive U.S. economic data. Fed policymakers appeared confident that the economy was strengthening enough to warrant interest rate increases soon. New orders for U.S. manufactured capital goods rebounded in October, driven by rising demand for machinery and a range of other equipment
Outlook: Technically market is under long liquidation as market has witnessed drop in open interest by -1.65% to settled at 5370, now Gold is getting support at 28654 and below same could see a test of 28562 level, And resistance is now likely to be seen at 28814, a move above could see prices testing 28882.
           
R2
R1
S1
S2
TREND
GOLD
29100
29000
28500
28400
SIDEWAYS
Silver: Silver trading range for the day is 39921-40621. Silver prices eased as the dollar traded within reach of an almost 14-year high hit on positive U.S. economic data. The minutes from the Fed’s meeting said an interest-rate increase was possible “relatively soon” if data indicated that the economy is improving. Some Fed officials explicitly called for a rate hike in December, the minutes showed.
Outlook:  Technically now Silver is getting support at 40117 and below same could see a test of 39921 level, And resistance is now likely to be seen at 40467, a move above could see prices testing 40621.
           
R2
R1
S1
S2
TREND
SILVER
41200
41000
40500
39900
SIDEWAYS

24 November 2016

TRADE IDEA ON BULLION FOR 24-25 NOV 2016

SELL GOLD DEC @ 28850 SL 29000 TGT 28740-28650.

SELL SILVER DEC @ 40400 SL 40850 TGT 40280-39850.

Gold:  Gold trading range for the day is 28414-29432. Gold dropped weighed down by a strong dollar, though bullion could receive support from European political risks in the coming months. Trump's presidential victory has spurred safe-haven buying of physical gold in Europe, traditional bullion holders in US are standing pat. SPDR gold trust holdings dropped by 1.47% i.e. 13.34 tonnes to 891.57 tonnes from 904.91 tonnes.
Outlook:
Technically market is under long liquidation as market has witnessed drop in open interest by -3.96% to settled at 5460 while prices down -310 rupee, now Gold is getting support at 28621 and below same could see a test of 28414 level, And resistance is now likely to be seen at 29130, a move above could see prices testing 29432.
           
R2
R1
S1
S2
TREND
GOLD
29200
29000
28600
28500
SIDEWAYS
Silver: Silver trading range for the day is 39546-41372. Silver prices fell after the dollar surged to fresh 14-year highs as upbeat U.S. economic reports underlined expectations for higher interest rates. New orders for U.S. manufactured capital goods rebounded in October, driven by rising demand for machinery and a range of other equipment. The number of Americans filing for unemployment benefits rose from a 43-year low last week, the trend in jobless claims remained consistent
Outlook:  Technically market is under long liquidation as market has witnessed drop in open interest by -0.01% to settled at 11069 while prices down -264 rupee, now Silver is getting support at 40036 and below same could see a test of 39546 level, And resistance is now likely to be seen at 40949, a move above could see prices testing 41372.
           
R2
R1
S1
S2
TREND
SILVER
40500
40350
40050
39900
SIDEWAYS