31 January 2017

BULLION OUTLOOK FOR BUDGET DAY 01-FEB-2017

BUY GOLD DEC @ 28650 SL 28500 TGT 28800-29820.

BUY SILVER DEC @ 41500 SL 41000 TGT 42000-42700.

Gold:  Gold trading range for the day is 28249-28697. MCX Gold price has given breakdown of its horizontal channel pattern at 28480 levels on hourly chart and price has retested its breakdown trend line at 28500 levels . On daily chart, MCX Gold price has faced resistance of its breakdown trend line at 28850 levels. Moreover, Momentum Indicator MACD has remained below signal line on hourly chart which suggest lack of momentum in the prices. For now we expect prices should move lower towards 27100 levels in the coming trading sessions.
Outlook: Technically market is getting support at 28386 and below same could see a test of 28249 level, And resistance is now likely to be seen at 28610, a move above could see prices testing 28697
           
R2
R1
S1
S2
TREND
GOLD
29000
28700
28500
28100
BULLISH
Silver: Silver trading range for the day is 41107-41757. On hourly chart, MCX Silver price has been trading in falling channel formation. In addition, Silver price have given breakdown of its rising trend line and price have almost retested its breakdown trend line on hourly chart. In addition, momentum indicator RSI has been facing resistance of its horizontal trend line at 65 levels on hourly chart, which indicates possibilities of further downside in the prices. For now we expect prices to move lower towards 40550 levels in few trading sessions.
Outlook:  Technically market is getting support at 41239 and below same could see a test of 41107 level, And resistance is now likely to be seen at 41564, a move above could see prices testing 41757.
           
R2
R1
S1
S2
TREND
SILVER
42500
41500
41000
40900
BULLISH

30 January 2017

BULLION OUTLOOK FOR 30-01 JAN 2017

Gold:  Gold trading range for the day is 27976-28572.MCX Gold price has given breakdown of its horizontal channel pattern at 28450 levels on 4 hourly chart. On daily chart, MCX Gold price has faced resistance of its breakdown trend line at 28850 levels. Gold prices have been trading below 200 HEMA on hourly chart. Moreover, Momentum Indicator MACD has given negative crossover on 4 hourly chart. For now we expect prices should move lower towards 27850 levels in the coming trading sessions.
Outlook: Technically market is under long liquidation as market has witnessed drop in open interest by -13.11% to settled at 5443 while prices down -32 rupees, now Gold is getting support at 28165 and below same could see a test of 27976 level, And resistance is now likely to be seen at 28463, a move above could see prices testing 28572.
           
R2
R1
S1
S2
TREND
GOLD
28680
28500
28300
28200
SIDEWAYS
Silver: 5 Silver trading range for the day is 39945-42483.MCX Silver price has been taking support of its horizontal trend line at 40550 levels. In COMEX Silver prices have been taking support of its rising trend line $16.50 levels on hourly chart. MCX Silver prices have been trading above 200 HEMA on hourly chart. In addition, momentum indicator RSI has been taken support of its horizontal trend line at 35 levels on hourly chart, which indicates possibilities of further pull back in the prices. For now we expect prices to move higher towards 41650 levels in few trading sessions
Outlook:  Technically now Silver is getting support at 40689 and below same could see a test of 39945 level, And resistance is now likely to be seen at 41958, a move above could see prices testing 42483.
           
R2
R1
S1
S2
TREND
SILVER
41750
41500
41200
41000
SIDEWAYS

27 January 2017

WEEKLY COMMODITY OUTLOOK FOR 30 JAN 03 FEB 2017

"SELL GOLD  @ 28220 SL 28480 TGT 28150-28080"

"SELL SILVER   @ 40800 SL 41350 TGT 40600-40380"

"BUY CRUDE   @ 3630 SL 3580 TGT 3672-3710"

Gold:  Gold trading range for the day is 28171-28757. Gold prices fell as the metal’s safe-haven appeal was dampened amid a rally in global stock markets.
Outlook: Technically market is under long liquidation as market has witnessed drop in open interest by -12.65% to settled at 6264 while prices down -340 rupees, now Gold is getting support at 28278 and below same could see a test of 28171 level, And resistance is now likely to be seen at 28571, a move above could see prices testing 28757.
           
R2
R1
S1
S2
TREND
GOLD
28500
28200
28000
27500
SIDEWAYS
Silver: Silver trading range for the day is 40484-41944. Silver dropped as the U.S. dollar pushed higher and stocks around the world extended their recent rally, dimming the metal’s safe-haven appeal.
Outlook:  Technically market is under long liquidation as market has witnessed drop in open interest by -2.55% to settled at 12771 while prices down -525 rupees, now Silver is getting support at 40838 and below same could see a test of 40484 level, And resistance is now likely to be seen at 41568, a move above could see prices testing 41944.
           
R2
R1
S1
S2
TREND
SILVER
41000
40800
40500
40000
SIDEWAYS
Crudeoil: Crudeoil trading range for the day is 3562-3682. Crude oil prices dropped after data showed that U.S. crude supplies rose for the third week in a row last week.

25 January 2017

BULLION TRADING IDEA FOR 25-27 JAN 2017

SELL GOLD DEC @ 28540 SL 28650 TGT 28400-28300.

SELL SILVER DEC @ 41200 SL 41500 TGT 41000-40800.

Gold:  Gold trading range for the day is 28641-28843. Gold slipped as investors took stock of U.S. President Donald Trump's first policy moves and a recovery in the dollar from recent lows
Outlook: Technically market is under long liquidation as market has witnessed drop in open interest by -0.98% to settled at 7171 while prices down -78 rupee, now Gold is getting support at 28683 and below same could see a test of 28641 level, And resistance is now likely to be seen at 28784, a move above could see prices testing 28843.
           
R2
R1
S1
S2
TREND
GOLD
28750
28650
28500
28300
SIDEWAYS
Silver: Silver trading range for the day is 41373-42101.Silver prices settled flat as traders continued to focus on President Donald Trump for further details on his promises of tax reform, infrastructure spending and deregulation.
Outlook:  Technically market is under short covering as market has witnessed drop in open interest by -0.86% to settled at 13105 while prices up 26 rupee, now Silver is getting support at 41545 and below same could see a test of 41373 level, And resistance is now likely to be seen at 41909, a move above could see prices testing 42101.
           
R2
R1
S1
S2
TREND
SILVER
41650
41500
41300
41000
SIDEWAYS

24 January 2017

BULLION OUTLOOK FOR 24-25 JAN 2017

Gold: Technically market is under fresh buying as market has witnessed gain in open interest by 9.91% to settled at 7242 while prices up 178 rupee, now Gold is getting support at 28683 and below same could see a test of 28563 level, And resistance is now likely to be seen at 28890, a move above could see prices testing 28977. 
Outlook: Gold trading range for the day is 28563-28977. Gold gained as the U.S. dollar tumbled amid uncertainty around the economic policies of new U.S. President Donald Trump.
           
R2
R1
S1
S2
TREND
GOLD
29000
28930
28800
28600
SIDEWAYS
Silver: Technically market is under fresh buying as market has witnessed gain in open interest by 1.5% to settled at 13219 while prices up 267 rupee, now Silver is getting support at 41346 and below same could see a test of 40999 level, And resistance is now likely to be seen at 41935, a move above could see prices testing 42177.
Outlook:  Silver trading range for the day is 40999-42177. Silver gained on a weaker dollar and safe haven buying on uncertainties over U.S. policy after Donald Trump was sworn in as president.
           
R2
R1
S1
S2
TREND
SILVER
42000
41700
41600
41500
SIDEWAYS