WEEKLY BULLION OUTLOOK FOR 1-05 MAY 2017

SELL GOLD 28850 SL 29100 TGT 28600-28500. 

SELL SILVER  40000 SL 40500 TGT 39500-39200.

Gold: Gold trading range for the day is 28649-28877. Technically market is under short covering as market, now Gold is getting support at 28709 and below same could see a test of 28649 level, And resistance is now likely to be seen at 28823, a move above could see prices testing 28877. In addition, Gold prices have been trading below 50 EMA on a daily chart. The momentum indicator MACD has shown negative crossover on the a daily chart. Therefore, we expect the Gold price to move lower towards 28500 levels.

	R2	R1	S1		S2	TREND
GOLD	29000	28900	28800		28650	BEARISH

Silver: Silver trading range for the day is 39332-40256, now Silver is getting support at 39501 and below same could see a test of 39332 level, And resistance is now likely to be seen at 39963, a move above could see prices testing 40256. The momentum indicator MACD has shown negative crossover on the a daily chart. For now, we expect the price to move lower towards 39000 levels in the coming trading sessions

	R2	R1	S1		S2	TREND
SILVER	40250	40100	39850		39600	BEARISH

BULLION OUTLOOK FOR 26-27 APRIL 2017

BUY GOLD @ 28800 SL 28700 TGT 29000-29280.

 SELL SILVER @ 40280 SL 40500 TGT 40100-40000.

Precious metals are trading lower on COMEX today. We expect prices to trade range bound for the day, after a near 1 percent decline in the previous session as increased investor appetite for risk boosted equities and dulled demand for safe-haven assets

Gold: Gold is trading into negative zone and traders can hold short positions until Gold closes above 29166 levels. Traders can initiate short positions on every rise until Gold closes above 29166 levels.

	R2	R1	S1		S2	TREND
GOLD	28950	28800	28700		28500	SIDEWAYS

Silver:  Silver is trading into negative zone and traders can go short at every rise or hold short positions until Silver closes above 41256  levels. 

	R2	R1	S1		S2	TREND
SILVER	40600	40400	42280		40000	SIDEWAYS

BULLION OUTLOOK FOR 25-26 APRIL 2017

yesterday’s CALL UPDATE:

GOLD HIT TGT 28950 MADE LOW OF 28918 !!!

silver HIT all TGT 41000 MADE LOW OF 40840!!!

Gold: Gold trading range for the day is 28824-29404. Technically market is under long liquidation as market has witnessed drop in open interest by -12.39% to settled at 5869 while prices down -287 rupees, now Gold is getting support at 28978 and below same could see a test of 28824 level, And resistance is now likely to be seen at 29268, a move above could see prices testing 29404. The momentum indicator MACD has shown negative crossover on the 4 hourly chart. Therefore, we expect the Gold price to move lower towards 28750 levels.

	R2	R1	S1		S2	TREND
GOLD	29100	29000	28850		28750	BEARISH

Silver: Silver trading range for the day is 40650-41430. Technically market is getting support at 40890 and below same could see a test of 40650 level, And resistance is now likely to be seen at 41280, a move above could see prices testing 41430. In addition, momentum indicator MACD is in Sell mode on the hourly chart in MCX Silver. For now, we expect the price to move lower towards 40200 levels in the coming trading sessions.

	R2	R1	S1		S2	TREND
SILVER	41250	41000	40800		40500	BEARISH

BULLION OUTLOOK FOR 24-25 APRIL 2017

SELL GOLD @ 29100 SL 29250 TGT 28950-28700.  

SELL SILVER @ 41200 SL 41450 TGT 41000-40850.

Gold: Gold trading range for the day is 29930-29587. Technically market is under short covering as market has witnessed drop in open interest by -1.25% to settled at 6699 while prices up 123 rupees, now Gold is getting support at 29279 and below same could see a test of 29139 level, And resistance is now likely to be seen at 29503, a move above could see prices testing 29587. We expect gold prices to trade negative on the back of profit booking after up-move.

	R2	R1	S1		S2	TREND
GOLD	29180	29100	29000		28800	BEARISH

Silver: Silver trading range for the day is 40800-41663. Technically now Silver is getting support at 41101 and below same could see a test of 40913 level, And resistance is now likely to be seen at 41476, a move above could see prices testing 41663. We expect silver prices to trade sideways on the back of profit booking after up-move.

	R2	R1	S1		S2	TREND
SILVER	41250	41100	41000		41700	BEARISH

WEEKLY BULLION (GOLD/SILVER) OUTLOOK FOR 24-28 APRIL 2017

yesterday’s CALL UPDATE:

GOLD HIT TGT 29300 MADE HIGH OF 29342!!!

BUY GOLD @ 29250 SL 29000 TGT 29400-29500.

 BUY SILVER @ 42500 SL 42100 TGT 42720-42880.

Gold: Gold is trading into positive zone and traders can hold long positions until Gold closes below 29177 levels. Traders can initiate long positions on every dip until Gold closes below 29177 levels. We expect gold prices to trade sideways on the back of profit booking after up-move. MCX Gold price has been trading in a rising channel formation from past few days and prices are trading near its resistance levels at 29500 levels on the 4 hourly chart. The momentum indicator MACD has shown negative crossover on the hourly chart. Therefore, we expect Gold price to may move lower towards 29050 levels.

	R2	R1	S1		S2	TREND
GOLD	29200	29150	29080		28900	BULLISH

Silver: Silver is trading into negative zone and traders can go short at every rise or hold short positions until Silver closes above 42245 levels. We expect silver prices to trade sideways on the back of profit booking after up-move. MCX Silver prices shown breakdown of its rising trend line at 41450 levels on the hourly chart. In addition, momentum indicator MACD has given negative Crossover on the hourly chart in MCX Silver. For now, we expect the price to may move lower towards 40500 levels in the coming trading sessions.

	R2	R1	S1		S2	TREND
SILVER	42680	41480	42350		42000	BULLISH

BULLION OUTLOOK FOR 20-21 APRIL 2017

yesterday’s CALL UPDATE:silver HIT TGT 41720

BUY GOLD @ 29220 SL 29000 TGT 29300-29400.

 BUY SILVER @ 41900 SL 41700 TGT 42100-42300.

Gold: Gold  is trading into positive zone and traders can hold long positions until Gold closes below 29177 levels. Traders can initiate long positions on every dip until Gold  closes below 29177 levels. We expect gold prices to trade sideways on the back of profit booking after up-move.

	R2	R1	S1		S2	TREND
GOLD	29400	29300	29100		29000	BULLISH

Silver: Silver has entered into negative zone and traders can go short at every dip or hold short positions until Silver closes above 42497 levels. We expect silver prices to trade sideways on the back of profit booking after up-move.

	R2	R1	S1		S2	TREND
SILVER	42200	42000	41800		41500	BULLISH