BULLION OUTLOOK FOR 04-05 JAN 2016

SELL GOLD DEC @ 27750 SL 27900 TGT 27650-27550.

SELL SILVER DEC @ 40300 SL 40700 TGT 40000-39700.

Gold:  On hourly chart, MCX Gold price has given breakout of its rectangle pattern at 27420 levels and price has retested its breakout trend line at 27420 levels. In addition, prices have been trading above its 50 HEMA. Moreover, Momentum Indicator RSI have been moving above 60 levels, which gives the sign of bullishness in the prices. For now we expect prices should move higher towards 28100 levels in the coming trading sessions.

	R2	R1	S1		S2	TREND
GOLD	31000	30650	30500		30000	SIDEWAYS

Silver: On 4 hourly chart, MCX Silver price has been trading in its falling wedge pattern and prices have been taking support of its lower band of pattern at 38500 levels. On the other hand, prices COMEX Silver prices have been taking support of its horizontal trend line at $15.85 levels on hourly chart. In addition, momentum indicator MACD has given positive crossover on hourly chart, which indicates strength in the prices. For now we expect prices to move higher towards 41400 levels in few trading sessions.

	R2	R1	S1		S2	TREND
SILVER	40500	40400	40200		40000	SIDEWAYS