yesterday’s CALL UPDATE:
Gold: Gold trading range for the day is 28824-29404. Technically market is
under long liquidation as market has witnessed drop in open interest by -12.39%
to settled at 5869 while prices down -287 rupees, now Gold is getting support
at 28978 and below same could see a test of 28824 level, And resistance is now
likely to be seen at 29268, a move above could see prices testing 29404. The
momentum indicator MACD has shown negative crossover on the 4 hourly chart.
Therefore, we expect the Gold price to move lower towards 28750 levels.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
GOLD
|
29100
|
29000
|
28850
|
28750
|
BEARISH
|
Silver: Silver
trading range for the day is 40650-41430. Technically market is getting support
at 40890 and below same could see a test of 40650 level, And resistance is now
likely to be seen at 41280, a move above could see prices testing 41430. In
addition, momentum indicator MACD is in Sell mode on the hourly chart in MCX
Silver. For now, we expect the price to move lower towards 40200 levels in the
coming trading sessions.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
SILVER
|
41250
|
41000
|
40800
|
40500
|
BEARISH
|
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