BULLION OUTLOOK FOR 03-04 APRIL 2017

BUY GOLD @ 28500 SL 28300 TGT 28600-28700.

 BUY SILVER @ 42200 SL 41900 TGT 42500-42880.

Gold: Gold Future is trading into negative zone and traders can hold short positions until Gold Future closes above 28674 levels. Traders can initiate short positions on every rise until Gold Future closes above 28674 levels. Gold trading range for the day is 28369-28807. Technically now Gold is getting support at 28456 and below same could see a test of 28369 level, And resistance is now likely to be seen at 28675, a move above could see prices testing 28807.

	R2	R1	S1		S2	TREND
GOLD	28620	28550	28450		28350	BULLISH

Silver: Silver is trading into positive zone and traders can go long at every dip or hold long positions until Silver closes below 41760 levels. Traders can go short once Silver Future closes below 41760 levels. Silver trading range for the day is 41729-42609. Technically market is under long liquidation as market has witnessed drop in open interest by -2.74% to settled at 11338 while prices down -136 rupees, now Silver is getting support at 41938 and below same could see a test of 41729 level, And resistance is now likely to be seen at 42378, a move above could see prices testing 42609.

	R2	R1	S1		S2	TREND
SILVER	42450	42300	42200		42000	BULLISH