BULLION OUTLOOK FOR 19-20 DEC 2016

“SELL GOLD FEB @ 27250 SL 27450 TGT 27050-26920.”

“SELL SILVER MAR @ 40100 SL 40450 TGT 39700-39400.”

Gold: Gold trading range for the day is 26840-27428

OUTLOOK: Technically market is under short covering as market has witnessed drop in open interest by -3.85% to settled at 6213, now Gold is getting support at 27002 and below same could see a test of 26840 level, And resistance is now likely to be seen at 27296, a move above could see prices testing 27428.

	R2	R1	S1		S2	TREND
GOLD	27600	27450	27140		27000	SIDEWAYS

Silver: Silver trading range for the day is 38867-40337

OUTLOOK: Technically market is under short covering as market has witnessed drop in open interest by -8.81% to settled at 14069 while prices up 399 rupee, now Silver is getting support at 39281 and below same could see a test of 38867 level, And resistance is now likely to be seen at 40016, a move above could see prices testing 40337.

	R2	R1	S1		S2	TREND
SILVER	40000	39700	39500		39200	SIDEWAYS