TECHNICAL BULLION OUTLOOK FOR 29-30 NOV 2016

Gold Outlook: On hourly chart, MCX Gold prices are trading below its Horizontal Trend line. Moreover, MCX Gold prices are trading below its 21 HEMA which suggest short term trend remains down. Moreover, Momentum Indicator RSI is trading below 50 levels on hourly time frame which indicates negative momentum to the prices. For now we expect prices should move lower towards 28200 levels in the coming trading sessions.

	R2	R1	S1		S2	TREND
GOLD	28950	28850	28650		28500	SIDEWAYS

Silver Outlook:  On hourly chart, MCX Silver prices are trading in Falling wedge pattern & are expected to break on the higher side. Furthermore, on COMEX Silver Prices has completed Bullish White Swan Harmonic pattern at $16.30 levels. In Addition, MCX Silver prices are trading above its 21 HEMA on hourly time frame which indicates positive momentum to the prices. For now we expect prices to move higher towards 41100 levels in few trading sessions.

	R2	R1	S1		S2	TREND
SILVER	41000	40900	40500		40200	SIDEWAYS