10 April 2017

BULLION OUTLOOK FOR 10-11 APRIL 2017

Gold: Gold Future is trading 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. Gold trading range for the day is 28542-29040. Technically market is under fresh selling as market has witnessed gain in open interest by 1.79% to settled at 6754 while prices down -84 rupees, now Gold is getting support at 28632 and below same could see a test of 28542 level, And resistance is now likely to be seen at 28881, a move above could see prices testing 29040.

           
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 42307 levels. Silver trading range for the day is 41708-42582. Technically market is under fresh selling as market has witnessed gain in open interest by 2.05% to settled at 12179, now Silver is getting support at 41901 and below same could see a test of 41708 level, And resistance is now likely to be seen at 42338, a move above could see prices testing 42582.
           
R2
R1
S1
S2
  TREND
SILVER
42680
42570
42350
42000
  BULLISH