BULLION OUTLOOK FOR 13-14 FEB 2017

BUY GOLD @ 29150 SL 29000 TGT 29220-29350.

BUY SILVER @ 42500 SL 42240 TGT 42720-42900.

Gold: Gold trading range for the day is 28822-29380. MCX Gold price has given a breakout of its Cup & Handle pattern at 28870 levels on the 4 hourly chart. Moreover, Momentum Indicator RSI has shown bullish range shift on the hourly chart. For now, we expect prices should move higher towards 29550 levels in the coming trading sessions.

Outlook: Technically now Gold is getting support at 28998 and below same could see a test of 28822 level, And resistance is now likely to be seen at 29277, a move above could see prices testing 29380.

	R2	R1	S1		S2	TREND
GOLD	29280	29200	29100		29000	SIDEWAYS

Silver: Silver trading range for the day is 41432-43318. On the 4 hourly chart, MCX Silver price has given a breakout of its inverted Head & Shoulder neckline at 41980 levels. In addition, momentum indicator MACD has shown positive crossover on the 4 hourly chart, which indicates possibilities of further upside in the prices. For now, we expect prices to move higher towards 43500 levels in few trading sessions

Outlook:  Technically now Silver is getting support at 42014 and below same could see a test of 41432 level, And resistance is now likely to be seen at 42957, a move above could see prices testing 43318.

	R2	R1	S1		S2	TREND
SILVER	43000	42800	42500		42200	SIDEWAYS