BUY GOLD @ 28600 SL 28800 TGT 28400-28300.
BUY SILVER @ 38600 SL 40000 TGT 38500-38400.
Gold: Gold trading range for the day is 28502-28686. Technically market is
getting support at 28542 and below same could see a test of 28502 level, And
resistance is now likely to be seen at 28634, a move above could see prices
testing 28686. Gold
price has given breakdown of its “Rising Channel” pattern at 29000 levels on a
daily chart. In addition, MCX Gold prices have been trading below 50 EMA on a
daily chart. The momentum indicator MACD has shown negative crossover on the a
daily chart. Therefore, we expect the Gold price to move lower towards 28300
levels.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
GOLD
|
29000
|
28800
|
28600
|
28400
|
BULLISH
|
Silver: Silver
trading range for the day is 38734-39664. Technically market is getting support
at 38900 and below same could see a test of 38734 level, And resistance is now
likely to be seen at 39365, a move above could see prices testing 39664. On a
daily chart, Silver price has given breakdown if its rising trend line at 41750
levels. In addition, MCX Silver prices have been trading below 50 EMA on a
daily chart. The momentum indicator MACD has shown negative crossover on the a
daily chart. For now, we expect the price to move lower towards 38000 levels in
the coming trading sessions.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
SILVER
|
40200
|
40000
|
38900
|
38700
|
BULLISH
|
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