BULLION OUTLOOK FOR 18-19 MAY 2017

yesterday’s CALL UPDATE:

silver HIT all TGT 38700 MADE low OF 38629!!!

Gold: Gold trading range for the day is 27968-28198. Technically market is under short covering as market has witnessed drop in open interest by -8.01% to settled at 6119 while prices up 102 rupees, now Gold is getting support at 28031 and below same could see a test of 27968 level, And resistance is now likely to be seen at 28146, a move above could see prices testing 28198. Gold has entered into positive zone and traders can hold long positions until Gold  closes below 28183 levels. Traders can initiate long positions on every dip until Gold Future closes below 28183 levels.

	R2	R1	S1		S2	TREND
GOLD	29120	29000	28900		28800	BULLISH

Silver: Silver trading range for the day is 38505-38895. Technically market is under fresh buying as market has witnessed gain in open interest by 1.21% to settled at 19606 while prices up 242 rupees, now Silver is getting support at 38625 and below same could see a test of 38505 level, And resistance is now likely to be seen at 38820, a move above could see prices testing 38895. Silver is trading into positive zone and traders can go long at every dip or hold long positions until Silver closes below 38674  levels.

	R2	R1	S1		S2	TREND
SILVER	39500	39200	39000		38900	BULLISH