YESTERDAY'S GOLD ACHIEVED TARGET 30350 MADE HIGH OF 30464
Gold: Yesterday, MCX Gold has given one-side bullish move and hovered near the
fourmonth high. On the weekly chart, MCX Gold has given “Symmetrical Triangle”
breakout and traded upward; which suggest bullish trend will continue further
for few more days. On the other hand, COMEX Gold has moved above the major
psychological level of $1350. 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.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
GOLD
|
30600
|
30470
|
30300
|
30100
|
BULLISH
|
Silver: On the daily
chart, MCX Silver has formed rising channel formation, where price
has bounced
back from lower line of the formation. which intimate positive strength in the
prices. In addition, price has moved up after taking a support of 38.2%
retracement level, which is a positive sign of bullish trend. Moreover,
momentum indicator RSI (14) and MACD has shown positive crossover on daily chart.
Based on the above technical set up and indicators, we expect a bullish move in
MCX Silver price.
Silver trading range for the day
is 40500-39200. Technically Silver is getting support at 39790 and below same
could see a test of 39200 level, And resistance is now likely to be seen at 40200,
a move above could see prices testing 40500. Silver is trading into positive zone
and traders can go long at every dips or hold long positions until
Silver closes below 39790 levels.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
SILVER
|
40500
|
40200
|
39790
|
39200
|
BULLISH
|
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