2 December 2016

WEEKLY BULLION OUTLOOK FOR 02-09 DEC 2016

WEEKLY CALL UPDATE:
GOLD HIT all TGT 28500 MADE HIGH OF 27881 !!!
silver HIT all TGT 39850 MADE HIGH OF 39601!!!

SELL GOLD FEB @ 28000 SL 28500 TGT 27800-27500.

BUY SILVER FEB @ 40800 SL 40000 TGT 41300-41800.

Gold:  On hourly chart, MCX Gold prices are trading in a Falling channel Formation. Moreover, MCX Gold prices are trading below its 21 HEMA which suggest short term trend remains down. Moreover, Momentum Indicator RSI is trading below 40 levels on hourly time frame which indicates negative momentum to the prices. For now we expect prices should move lower towards 27650 levels in the coming trading sessions.
           
R2
R1
S1
S2
TREND
GOLD
31000
30650
30500
30000
SIDEWAYS
Silver: On hourly chart, MCX Silver prices have completed Bullish Anti – Alternate Shark Harmonic Pattern 40550 levels. 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 10 HEMA on hourly time frame which indicates positive momentum to the prices. For now we expect prices to move higher towards 41500 levels in few trading sessions.
           
R2
R1
S1
S2
TREND
SILVER
44250
44100
44000
43750
SIDEWAYS

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