4 May 2017

BULLION OUTLOOK FOR 04-05 MAY 2017

SELL GOLD @ 28200 SL 28350 TGT 28000-27850.

 SELL SILVER @ 38100 SL 38500 TGT 37800-37500.

Gold: Gold trading range for the day is 28502-28686. Technically market is getting support at 28542 and below same could see a test of 28502 level, And resistance is now likely to be seen at 28634, a move above could see prices testing 28686. Gold is trading into negative zone and traders can hold short positions until Gold closes above 28723 levels. Traders can initiate short positions on every rise until Gold closes above 28723 levels.

           
R2
R1
S1
S2
TREND
GOLD
28700
28500
28200
28000
BEARISH
Silver: Silver trading range for the day is 38734-39664. Technically market is getting support at 38900 and below same could see a test of 38734 level, And resistance is now likely to be seen at 39365, a move above could see prices testing 39664. Silver is trading into negative zone and traders can go short at every rise or hold short positions until Silver closes above 39032  levels. 
           
R2
R1
S1
S2
  TREND
SILVER
38800
38500
38300
38000
  BEARISH

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