BULLION OUTLOOK FOR 12-13 APRIL 2017

SELL GOLD @ 29200 SL 29300 TGT 29000-28920.

SELL SILVER @ 42300 SL 42500 TGT 42120-42000.

Gold: Gold trading range for the day is 28541-28899. Technically market is under short covering and prices are getting support at 28640 and below same could see a test of 28541 level, And resistance is now likely to be seen at 28819, a move above could see prices testing 28899. Gold Future has entered into positive zone and traders can hold long positions until Gold Future closes below 28723 levels. Traders can initiate long positions on every dip until Gold Future closes below 28723 levels.

	R2	R1	S1		S2	TREND
GOLD	29200	29150	29080		28900	BULLISH

Silver: Silver trading range for the day is 40818-41742. Technically market is getting support at 41092 and below same could see a test of 40818 level, And resistance is now likely to be seen at 41554, a move above could see prices testing 41742. Silver has entered into positive zone and traders can go long at every dip or hold long positions until Silver closes below 41206 levels.

	R2	R1	S1		S2	TREND
SILVER	42680	42570	42350		42000	BULLISH