SELL SILVER BELOW 38030 TGT 37920/37780 SL 38180
Gold: Gold trading range for the day is 27967-28299. . Technically Gold is
getting support at 28029 and below same could see a test of 27967 level, And
resistance is now likely to be seen at 28195, a move above could see prices
testing 28299. We expect gold prices to trade sideways on the back of short
covering after drop in prices. Gold
price has given the breakdown of a “Symmetrical triangle pattern” at 28700
levels on a daily chart. In addition, Gold prices have been trading below 100
EMA on a daily chart. The momentum indicator MACD has remained in negative
crossover on a daily chart. Therefore, we expect the Gold price to continue
moving lower towards 27700 levels.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
GOLD
|
28250
|
28180
|
28120
|
28000
|
Bearish
|
Silver: Silver
trading range for the day is 37714-38436. Technically market is getting support
at 37863 and below same could see a test of 37714 level, And resistance is now
likely to be seen at 38224, a move above could see prices testing 38436. We expect silver prices to trade sideways on
the back of short covering after drop in prices. MCX Silver price has shown the
breakdown of its “Symmetrical triangle pattern” at 41500 levels on a daily
chart .In addition, MCX Silver prices have been trading below 100 EMA on a
daily chart. The momentum indicator MACD has shown negative crossover on a
daily chart. For now, we expect the price to move lower towards 37200 levels in
the coming trading sessions.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
SILVER
|
38224
|
38080
|
38000
|
37900
|
Bearish
|
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