WEEKLY BULLLION OUTLOOK FOR 27 FEB 02 MAR

SELL GOLD @ 29400 SL 29580 TGT 29220-29080.

SELL SILVER @ 42650 SL 43000 TGT 42400-42200.

Gold: Gold trading range for the day is 29071-29413. Technically market is getting support at 29139 and below same could see a test of 29071 level, And resistance is now likely to be seen at 29310, a move above could see prices testing 29413. MCX Gold price has given a breakout of its Cup & Handle pattern at 28870 levels on a daily chart and price has almost retested its breakout trend line levels. Moreover, MCX Gold prices have been trading above 21 DEMA on the daily chart. Moreover, Momentum Indicator RSI has shown bullish range shift on the daily chart.

	R2	R1	S1		S2	TREND
GOLD	29380	29300	29200		29000	Bearish

Silver: Silver trading range for the day is 42462-42990.Technically market is getting support at 42587 and below same could see a test of 42462 level, And resistance is now likely to be seen at 42851, a move above could see prices testing 42990. On a daily chart, MCX Silver price has given a breakout of its inverted Head & Shoulder neckline at 41980 levels and price has rested its neckline breakout.. Moreover, MCX Silver prices have been trading above its 50 DEMA. In addition, momentum indicator RSI has remained above 60 levels, which indicates possibilities of further upside in the prices

	R2	R1	S1		S2	TREND
SILVER	42800	42700	42500		42000	Bearish