6 April 2017

BULLION OUTLOOK FOR 06-07 APRIL 2017

Gold: Gold trading range for the day is 28550-29168. Gold Future has entered into negative zone and traders can hold short positions until Gold Future closes above 28967 levels. Traders can initiate short positions on every rise until Gold Future closes above 28967 levels. Technically now Gold is getting support at 28678 and below same could see a test of 28550 level, And resistance is now likely to be seen at 28987, a move above could see prices testing 29168.

           
R2
R1
S1
S2
TREND
GOLD
29000
28800
28600
28500
BULLISH
Silver: Silver is trading into positive zone and traders can go long at every dip or hold long positions until Silver closes below 42175 levels. Traders can go short once Silver Future closes below 42175 levels. Technically market is under fresh selling as market has witnessed gain in open interest by 1.7% to settled at 11934 while prices down -312 rupees, now Silver is getting support at 42116 and below same could see a test of 41974 level, And resistance is now likely to be seen at 42459, a move above could see prices testing 42660.
           
R2
R1
S1
S2
  TREND
SILVER
42500
42200
42000
41800
  BULLISH