BULLION OUTLOOK FOR 02-03 MAY 2017

WEEKLY CALL UPDATE:

GOLD HIT TGT 28600 GIVEN AT 28850

SILVER HIT ALL TGT 39200 GIVEN AT 40000

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Gold: Gold trading range for the day is 28649-28877. Technically market is under short covering, now Gold is getting support at 28709 and below same could see a test of 28649 level, And resistance is now likely to be seen at 28823, a move above could see prices testing 28877. Gold is trading into negative zone and traders can hold short positions until Gold closes above 28992 levels. Traders can initiate short positions on every rise until Gold closes above 28992 levels. 

	R2	R1	S1		S2	TREND
GOLD	28992	28650	28500		28600	BULLISH

Silver: Silver trading range for the day is 39332-40256. Technically market is under long liquidation, now Silver is getting support at 39501 and below same could see a test of 39332 level, And resistance is now likely to be seen at 39963, a move above could see prices testing 40256. Silver is trading into negative zone and traders can go short at every rise or hold short positions until Silver closes above 39620  levels.

	R2	R1	S1		S2	TREND
SILVER	39200	39000	38800		38500	BULLISH