31 October 2017

CRUDE OIL OUTLOOK FOR 31 OCT-01 NOV 2017

CRUDE OIL: Crude Oil price has given a breakdown of its rising trend line at 3495 levels and price has retested its breakdown trend line at 3450 levels. Channel pattern at 3520 levels on the Daily chart. Moreover, Momentum indicator RSI has remained below 50 levels on the hourly chart which suggests negative movement in the prices. For now, we expect prices to move lower towards 3450 levels in coming trading sessions.
           
R2
R1
S1
S2
TREND
CRUDEOIL
3550
3520
3495
3450
Bearish


30 October 2017

BULLION OUTLOOK FOR 30-31 OCT 2017

Gold: Gold trading range for the day is 29000-29500. Gold is getting support at 29200 and below same could see a test of 29000 level, And resistance is now likely to be seen at 29300, a move above could see prices testing 29500. Gold is trading into the negative zone and traders can hold short positions until Gold closes above 29300 levels. Traders can initiate short positions on every rise until Gold closes above 29300 levels.

           
R2
R1
S1
S2
TREND
GOLD
29500
29300
29200
29000
Bearish
Silver: Silver trading range for the day is 38800-39500. Technically Silver is getting support at 39000 and below same could see a test of 38800 level, And resistance is now likely to be seen at 39200, a move above could see prices testing 39500. Silver is trading into the negative zone and traders can go short at every rise or hold short positions until Silver closes above 39200 levels. 
           
R2
R1
S1
S2
  TREND
SILVER
39200
39200
39000
38800
  Bearish

27 October 2017

BULLION OUTLOOK FOR 30 OCT- 03 NOV 2017

Gold: Gold trading range for the day is 29000-29500. Gold is getting support at 29200 and below same could see a test of 29000 level, And resistance is now likely to be seen at 29500, a move above could see prices testing 29650. Gold is trading into the negative zone and traders can hold short positions until Gold closes above 29500 levels. Traders can initiate short positions on every rise until Gold closes above 29500 levels.

           
R2
R1
S1
S2
TREND
GOLD
29650
29500
29200
29000
Bearish
Silver: Silver trading range for the day is 38800-39500. Technically Silver is getting support at 39000 and below same could see a test of 38800 level, And resistance is now likely to be seen at 39300, a move above could see prices testing 39500. Silver is trading into the negative zone and traders can go short at every rise or hold short positions until Silver closes above 39300 levels. 
           
R2
R1
S1
S2
  TREND
SILVER
39500
39300
39000
38800
  Bearish

26 October 2017

BULLION OUTLOOK FOR 26-27 OCT 2017

Gold: Gold trading range for the day is 29100-29500. Gold is getting support at 29250 and below same could see a test of 29100 level, And resistance is now likely to be seen at 29500, a move above could see prices testing 29650. Gold is trading into the negative zone and traders can hold short positions until Gold closes above 29500 levels. Traders can initiate short positions on every rise until Gold closes above 29500 levels.

           
R2
R1
S1
S2
TREND
GOLD
29650
29500
29250
29100
Bearish
Silver: Silver trading range for the day is 39100-39900. Technically Silver is getting support at 39350 and below same could see a test of 39100 level, And resistance is now likely to be seen at 39700, a move above could see prices testing 39900. Silver is trading into the negative zone and traders can go short at every rise or hold short positions until Silver closes above 39700 levels. 
           
R2
R1
S1
S2
  TREND
SILVER
39900
39700
39350
39100
  Bearish

25 October 2017

BULLION OUTLOOK FOR 25-26 OCT 2017

Gold: Gold trading range for the day is 29600-29100. Gold is getting support at 29300 and below same could see a test of 29100 level, And resistance is now likely to be seen at 29500, a move above could see prices testing 29650. Gold is trading into the negative zone and traders can hold short positions until Gold closes above 29500 levels. Traders can initiate short positions on every rise until Gold closes above 29500 levels.

           
R2
R1
S1
S2
TREND
GOLD
29650
29500
29300
29100
Bearish
Silver: Silver trading range for the day is 39800-39000. Technically Silver is getting support at 39400 and below same could see a test of 39000 level, And resistance is now likely to be seen at 39700, a move above could see prices testing 40000. Silver is trading into the negative zone and traders can go short at every rise or hold short positions until Silver closes above 40000 levels. 
           
R2
R1
S1
S2
  TREND
SILVER
40000
39700
39400
39000
  Bearish

24 October 2017

BULLION OUTLOOK FOR 24-25 OCT 2017

Gold: Gold trading range for the day is 29500-29300. Gold is getting support at 29450 and below same could see a test of 29250 level, And resistance is now likely to be seen at 29500, a move above could see prices testing 29650. Gold is trading into the negative zone and traders can hold short positions until Gold closes above 29500 levels. Traders can initiate short positions on every rise until Gold closes above 29500 levels.

           
R2
R1
S1
S2
TREND
GOLD
29650
29500
29450
29200
Bearish
Silver: Silver trading range for the day is 39300-40400. Technically Silver is getting support at 39800 and below same could see a test of 39200 level, And resistance is now likely to be seen at 40100, a move above could see prices testing 40400. Silver is trading into the negative zone and traders can go short at every rise or hold short positions until Silver closes above 40100 levels. 
           
R2
R1
S1
S2
  TREND
SILVER
40400
40100
39800
39200
  Bearish

23 October 2017

BULLION OUTLOOK FOR 23-24 OCT 2017

Gold: Gold trading range for the day is 29500-29300. Gold is getting support at 29400 and below same could see a test of 29250 level, And resistance is now likely to be seen at 29500, a move above could see prices testing 29650. Gold is trading into the negative zone and traders can hold short positions until Gold closes above 29500 levels. Traders can initiate short positions on every rise until Gold closes above 29500 levels.

           
R2
R1
S1
S2
TREND
GOLD
29650
29500
29400
29200
Bearish
Silver: Silver trading range for the day is 39300-40200. Technically Silver is getting support at 39500 and below same could see a test of 39000 level, And resistance is now likely to be seen at 39800, a move above could see prices testing 40200. Silver is trading into the negative zone and traders can go short at every rise or hold short positions until Silver closes above 40000 levels. 
           
R2
R1
S1
S2
  TREND
SILVER
40200
39800
39500
39000
  Bearish