1 December 2016

BULLION OUTLOOK FOR 01 -02 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 28000 levels in the coming trading sessions.
           
R2
R1
S1
S2
TREND
GOLD
28500
28300
28100
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 lower towards 39500 levels in few trading sessions.
           
R2
R1
S1
S2
TREND
SILVER
41000
40500
40000
39800
SIDEWAYS


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