WEEKLY BULLION (GOLD/SILVER) OUTLOOK FOR 24-28 APRIL 2017

yesterday’s CALL UPDATE:

GOLD HIT TGT 29300 MADE HIGH OF 29342!!!

BUY GOLD @ 29250 SL 29000 TGT 29400-29500.

 BUY SILVER @ 42500 SL 42100 TGT 42720-42880.

Gold: Gold is trading into positive zone and traders can hold long positions until Gold closes below 29177 levels. Traders can initiate long positions on every dip until Gold closes below 29177 levels. We expect gold prices to trade sideways on the back of profit booking after up-move. MCX Gold price has been trading in a rising channel formation from past few days and prices are trading near its resistance levels at 29500 levels on the 4 hourly chart. The momentum indicator MACD has shown negative crossover on the hourly chart. Therefore, we expect Gold price to may move lower towards 29050 levels.

	R2	R1	S1		S2	TREND
GOLD	29200	29150	29080		28900	BULLISH

Silver: Silver is trading into negative zone and traders can go short at every rise or hold short positions until Silver closes above 42245 levels. We expect silver prices to trade sideways on the back of profit booking after up-move. MCX Silver prices shown breakdown of its rising trend line at 41450 levels on the hourly chart. In addition, momentum indicator MACD has given negative Crossover on the hourly chart in MCX Silver. For now, we expect the price to may move lower towards 40500 levels in the coming trading sessions.

	R2	R1	S1		S2	TREND
SILVER	42680	41480	42350		42000	BULLISH