30 June 2017

WEEKLY BULLION OUTLOOK FOR 03-07 JULY 2017

SELL GOLD @ 28650 SL 28850 TGT 28580-28450.

SELL SILVER @ 38600 SL 39000 TGT 38560-38380.

Gold: Gold price has taken the support of its rising trend line at 28250 levels on a daily hourly chart. Therefore, we expect the Gold price to move higher towards 28830 levels. Gold trading range for the day is 28358-28754. Technically market is getting support at 28483 and below same could see a test of 28358 level, And resistance is now likely to be seen at 28681, a move above could see prices testing 28754.
           
R2
R1
S1
S2
TREND
GOLD
29000
28850
28700
28500
Bearish
Silver: Silver price taken the support of its trend line at 38650 level on a daily chart and price has formed double bottom formation, which is bullish reversal pattern. Therefore, we expect the Silver price to move higher towards 39300 level. Silver trading range for the day is 38068-39186.Technically Silver is getting support at 38334 and below same could see a test of 38068 level, And resistance is now likely to be seen at 38893, a move above could see prices testing 39186.
           
R2
R1
S1
S2
  TREND
SILVER
39000
38750
38650
38500
  Bearish

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