SELL GOLD @ 29300
SL 29450 TGT 29100-29000.
SELL SILVER @ 41920 SL 42100 TGT 41720-41600.
Gold: Gold Future is trading into positive zone and traders can
hold long positions until Gold Future closes below 29177 levels.
Traders can initiate long positions on every dip until Gold Future
closes below 29177 levels. We expect gold prices to trade sideways on
the back of profit booking after up-move. The momentum indicator MACD has shown
negative crossover on the hourly chart. Therefore, we expect Gold price to move
lower towards 29190 levels.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
GOLD
|
29200
|
29150
|
29080
|
28900
|
SIDEWAYS
|
Silver: Silver is
trading into positive zone and traders can go long at every
dip or hold long positions until Silver closes below 42022
levels. We expect silver prices to trade sideways on the back of profit
booking after up-move. Silver prices are trading below its 21 HEMA. In
addition, MACD has shown negative crossover on a daily chart in MCX Silver. For
now, we expect the price to move lower towards 41200 levels in the coming
trading sessions.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
SILVER
|
42680
|
42570
|
42350
|
42000
|
SIDEWAYS
|
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