17 May 2017

TECHNICAL BULLION CALL FOR 17-18 MAY 2017

SELL GOLD 28350 SL 28510 TGT 28200-28100.

SELL SILVER 39200 SL 39500 TGT 38900-38700.

Gold: Gold trading range for the day is 27879-28199. Technically market is getting support at 27936 and below same could see a test of 27879 level, And resistance is now likely to be seen at 28096, a move above could see prices testing 28199. Gold Future is trading into negative zone and traders can hold short positions until Gold Future closes above 28226 levels. Traders can initiate short positions on every rise until Gold Future closes above 28226 levels.
           
R2
R1
S1
S2
TREND
GOLD
28420
28350
28250
28100
Bullish
Silver: Silver trading range for the day is 37886-39192. Technically market is getting support at 38194 and below same could see a test of 37886 level, And resistance is now likely to be seen at 38847, a move above could see prices testing 39192. Silver has entered into positive zone and traders can go long at every dip or hold long positions until Silver closes below 38192  levels. 
           
R2
R1
S1
S2
  TREND
SILVER
39500
39200
38900
38500
  Bullish

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