30 January 2018

BULLION CALL FOR 30-31 JAN 2018


25 th jan 2018 ; silver HIT sell TGT 39200 MADE HIGH OF 39020

Gold: Yesterday, MCX Gold opened on negative note, where price fell down for the day, which may consider as profit booking after a long bullish rally. On the weekly chart, MCX Gold has given “Symmetrical Triangle” breakout and so far sustained above the triangle; which suggest bullish trend will continue further for few more days. Moreover, MCX Gold Price has found the support of 21 days EMA on daily chart. Based on the above technical aspects, we expect bullish movement in MCX Gold prices. Gold trading range for the day is 30300-29800. Gold is getting support at 29900 and below same could see a test of 29600 level, And resistance is now likely to be seen at 30300, a move above could see prices testing 29600. Gold is trading into positive zone and traders can hold long positions until Gold closes below 29900 levels. Traders can initiate long  positions on every dips until Gold closes below  29900  levels.

           
R2
R1
S1
S2
TREND
GOLD
30300
30150
29900
29600
BULLISH
Silver: We expect silver prices to trade positive on the back of positive on the back of speculative buying. Silver trading range for the day is 39600-38700. Technically Silver is getting support at 39000 and below same could see a test of 38700 level, And resistance is now likely to be seen at 39350, a move above could see prices testing 39600. Silver is trading into positive zone and traders can go long at every dips or hold long  positions until Silver closes below 39000  levels.
           
R2
R1
S1
S2
  TREND
SILVER
39600
39350
39000
38700
  BULLISH

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