9 March 2017

BULLION OUTLOOK FOR 09-10 MARCH

Gold: We expect gold prices to trade sideways on the back of expectations for a U.S. interest rate hike. Gold Future is trading in negative zone and traders can hold short positions until Gold Future closes above 28919 levels. Traders can initiate short positions on every rise until Gold Future closes above 28919 levels
           
R2
R1
S1
S2
TREND
GOLD
28750
28600
28500
28300
SIDEWAY
Silver: We expect silver prices to trade sideways on the back of short covering after sharp drop in prices. Silver is trading into negative zone and traders can short at every rise or hold short positions until Silver closes above 42290 levels. Traders can go long once Silver Future closes above 42290 levels.
           
R2
R1
S1
S2
  TREND
SILVER
41800
41500
41200
41000
  SIDEWAY

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