Gold: On 4 hourly chart, MCX Gold
prices have been trading in rising channel formation and prices have been
facing resistance 27830 levels. In addition, COMEX Gold prices have been facing
resistance of its horizontal trend line at $1168 levels on hourly chart.
Moreover, Momentum Indicator RSI have shown negative divergence on 4 hourly
chart, which gives the sign of bearishness in the prices. For now we expect
prices should move lower towards 27350 levels in the coming trading sessions.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
GOLD
|
28000
|
27850
|
27700
|
27500
|
SIDEWAYS
|
Silver: On hourly
chart, MCX Silver price has faced resistance of its falling trend line at 40400
levels on hourly chart. On the other hand, MCX Silver price has completed
bearish AB=CD harmonic pattern at 40570 levels on hourly chart. In addition,
momentum indicator MACD has given negative crossover on hourly chart, which indicates
lack of strength in the prices. For now we expect prices to move lower towards
39250 levels in few trading sessions
R2
|
R1
|
S1
|
S2
|
TREND
|
||
SILVER
|
41000
|
40700
|
40200
|
40000
|
SIDEWAYS
|
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