BULLION OUTLOOK FOR 12-13 DEC 2016

Silver: Last week, Silver March contract prices opened on a flat note at 41269 and rose till the high of 41999, but in the later session it dipped lower till 40747 and finally settled at 41221 forming Doji candlestick pattern. On the broader scenario, prices are still moving within the falling trend channel and for the week resistance are seen at 42200 the 42800 levels. While on the lower side key support is at 39100 mark of 61.8% retracement level. For current week, we expect prices to remain lower and recommend selling on rise near around 42000 levels for targets of 39800 then 39200 levels.

	R2	R1	S1		S2	TREND
SILVER	42450	42200	42000		40000	BEARISH

CRUDEOIL: In the last week, Crude oil prices December contract remained sideways to bearish. After opening at 3488 rose till the high of 3579 but it failed to sustain and dipped lower till 3351 and finally settled at 3474 forming a Doji candlestick pattern. Last week prices have once again managed to settle above the previous high of 3460 and on immediate basis the rising trend line is seen around 3610, surpass above it will provide fresh bullish move in the coming sessions. On the lower side supports are seen at 3430 then 3350 levels.

	R2	R1	S1		S2	TREND
CRUDEOIL	3600	3430	3380		3220	BULLISH