BULLION OUTLOOK FOR 21-22 MARCH 2017

YESTERDAY'S GOLD AND SILVER CALL HOLD FOR TOMORROW

Gold: Gold Future is trading into positive zone and traders can hold long positions until Gold Future closes below 28318 levels. Traders can initiate long positions on every dip until Gold Future closes below 28318 levels. Technically market is under long liquidation as market has witnessed drop in open interest by -1.62% to settled at 4618 while prices down -4 rupees, now Gold is getting support at 28463 and below same could see a test of 28422 level, And resistance is now likely to be seen at 28572, a move above could see prices testing 28640.

	R2	R1	S1		S2	TREND
GOLD	28550	28480	28300		28000	BULLISH

Silver: Silver is trading into positive zone and traders can go long at every dip or hold long positions until Silver closes below 40426 levels. Traders can go short once Silver Future closes below 40426 levels. Technically market is under fresh selling as market has witnessed gain in open interest by 2.15% to settled at 13949 while prices down -40 rupees, now Silver is getting support at 40766 and below same could see a test of 40662 level, And resistance is now likely to be seen at 41018, a move above could see prices testing 41166.

	R2	R1	S1		S2	TREND
SILVER	41000	40880	40600		40000	BULLISH