30 December 2016

WEEKLY BULLION OUTLOOK FOR 02-06 JAN 2017

BUY GOLD FEB @ 27200 SL 27050 TGT 27350-27480.

BUY SILVER MAR @ 39100 SL 38900 TGT 39450-39600.

Gold:  On hourly chart, MCX Gold price has given breakout of its rectangle pattern at 27220 levels. Furthermore, COMEX Gold prices have been taking support of its horizontal trend line at $1139 levels on hourly chart. Moreover, Momentum Indicator MACD has given positive crossover on daily chart, which gives the sign of bullishness in the prices. For now we expect prices should move higher towards 27800 levels in the coming trading sessions.
Outlook: Technically market is getting support at 27217 and below same could see a test of 27135 level, And resistance is now likely to be seen at 27364, a move above could see prices testing 27429.
           
R2
R1
S1
S2
TREND
GOLD
28000
27700
27500
27200
SIDEWAYS
Silver: On 4 hourly chart, MCX Silver price has been trading in its falling wedge pattern and prices have been taking support of its lower band of pattern at 38500 levels. On the other hand, prices are trading above its 21 HEMA. In addition, momentum indicator MACD has given positive crossover on hourly chart, which indicates strength in the prices. For now we expect prices to move higher towards 40300 levels in few trading sessions.
Outlook:  Technically market is under short covering as market has witnessed drop in open interest by -1.15% to settled at 13463 while prices up 302 rupee, now Silver is getting support at 39151 and below same could see a test of 38882 level, And resistance is now likely to be seen at 39608, a move above could see prices testing 39796.
           
R2
R1
S1
S2
TREND
SILVER
40000
39900
39700
39500
SIDEWAYS


29 December 2016

BULLION OUTLOOK FOR 29-30 DEC 2016

Gold:  Technically market is getting support at 27217 and below same could see a test of 27135 level, And resistance is now likely to be seen at 27364, a move above could see prices testing 27429.
Outlook: Gold trading range for the day is 27135-27429.
           
R2
R1
S1
S2
TREND
GOLD
27600
27500
27350
27200
SIDEWAYS
Silver: Technically market is under short covering as market has witnessed drop in open interest by -1.15% to settled at 13463 while prices up 302 rupee, now Silver is getting support at 39151 and below same could see a test of 38882 level, And resistance is now likely to be seen at 39608, a move above could see prices testing 39796.
Outlook:  Silver trading range for the day is 38882-39796.
           
R2
R1
S1
S2
TREND
SILVER
40000
39850
39700
39500
SIDEWAYS

28 December 2016

BULLION OUTLOOK FOR 28-29 DEC 2016

Gold:  On daily chart, MCX Gold price has taken support of its falling trend line at 26810 levels. Furthermore, COMEX Gold prices have been taking support of its horizontal trend line at $1138 levels on hourly chart. Moreover, Momentum Indicator MACD has given positive crossover on daily chart, which gives the sign of bullishness in the prices. For now we expect prices should move higher towards 27600 levels in the coming trading sessions.
Outlook: Technically now Gold is getting support at 27015 and below same could see a test of 26859 level, And resistance is now likely to be seen at 27373, a move above could see prices testing 27575. Gold trading range for the day is 26859-27575.
           
R2
R1
S1
S2
TREND
GOLD
27500
27350
27200
27000
BEARISH
Silver: On hourly chart, MCX Silver price has been trading in its falling wedge pattern and prices have been taking support of its lower band of pattern at 38500 levels. On the other hand, prices are trading above its 21 HEMA. In addition, momentum indicator MACD has given positive crossover on hourly chart, which indicates strength in the prices. For now we expect prices to move higher towards 39900 levels in few trading sessions.
 Outlook: Technically market is getting support at 38764 and below same could see a test of 38410 level, And resistance is now likely to be seen at 39448, a move above could see prices testing 39778. Silver trading range for the day is 38410-39778.
           
R2
R1
S1
S2
TREND
SILVER
39800
39600
39150
39000
BEARISH

27 December 2016

COMMODITY OUTLOOK FOR 27-28 DEC 2016

Gold:  On Hourly chart, MCX Gold price has given breakdown of its rising channel pattern at 27040 levels. Furthermore, COMEX Gold prices have been trading below its falling trend line at $1140 levels on hourly chart. Moreover, Momentum Indicator MACD is trading below its signal line on hourly time frame which indicates the possibilities of further downside in the prices. For now we expect prices should move lower towards 26600 levels in the coming trading sessions.
           
R2
R1
S1
S2
TREND
GOLD
27500
27350
27250
27150
SIDEWAYS
Silver: On 4 hourly chart, MCX Silver price has given breakdown of its falling wedge pattern at 39080 levels. On the other hand, prices are trading below 50 HEMA. Furthermore, COMEX Silver price has given breakdown of its horizontal trend line at $16 levels on hourly chart. In addition, momentum indicator MACD has given negative crossover on 4 hourly chart, which indicates lack of strength in the prices. For now we expect prices to move lower towards 37600 levels in few trading sessions.
           
R2
R1
S1
S2
TREND
SILVER
39550
39450
39200
39000
SIDEWAYS
CRUDEOIL: MCX Crude Oil prices has been trading in rising wedge pattern and taking support of its lower band of wedge pattern at 3550 levels on hourly chart. MCX Crude Oil is trading above its 100 HEMA on hourly chart. On the other hand, NYMEX WTI Crude oil price has taken support of its rising trend line at $52.40 levels. Moreover, Momentum indicator RSI is trading above 50 levels on hourly chart which suggest the positive movement in the prices. For now we expect prices to move higher towards 3710 levels in coming trading sessions.
           
R2
R1
S1
S2
TREND
CRUDEOIL
3700
3650
3600
3550
SIDEWAYS

26 December 2016

BULLION OUTLOOK FOR 26-27 DEC 2016

“SELL GOLD FEB @ 27000 SL 27250 TGT 26820-26660.”

“SELL SILVER MAR @ 38800 SL 39250 TGT 38550-38250.”

Gold:  Technically now Gold is getting support at 26922 and below same could see a test of 26850 level, And resistance is now likely to be seen at 27054, a move above could see prices testing 27114.
Outlook: Gold trading range for the day is 26850-27114.
           
R2
R1
S1
S2
TREND
GOLD
31000
30650
30500
30000
SIDEWAYS
Silver: Technically market is under fresh selling as market has witnessed gain in open interest by 0.53% to settled at 14869 while prices down -375 rupee, now Silver is getting support at 38371 and below same could see a test of 38147 level, And resistance is now likely to be seen at 38992, a move above could see prices testing 39389.
Outlook:  Silver trading range for the day is 38147-39389.
           
R2
R1
S1
S2
TREND
SILVER
44250
44100
44000
43750
SIDEWAYS