19 April 2017

BULLIOLN OUTLOOK FOR 19-20 APRIL 2017

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