12 May 2017

WEEKLY BULLION OUTLOOK FOR 15-19 MAY 2017

BUY GOLD 27950 SL 27770 TGT 28200-28350.

BUY SILVER @ 38100 SL 37700 TGT 38300-38550.

Gold: Gold trading range for the day is 27862-28212. Technically market is getting support at 27929 and below same could see a test of 27862 level, And resistance is now likely to be seen at 28104, a move above could see prices testing 28212. Gold is trading into negative zone and traders can hold short positions until Gold closes above 28226 levels. Traders can initiate short positions on every rise until Gold closes above 28226 levels.
           
R2
R1
S1
S2
TREND
GOLD
28226
28150
28050
27950
Bearish
Silver: Silver trading range for the day is 37617-38457. Technically market is under fresh buying and getting support at 37784 and below same could see a test of 37617 level, And resistance is now likely to be seen at 38204, a move above could see prices testing 38457. Silver is trading into negative zone and traders can go short at every rise or hold short positions until Silver closes above 38506  levels.
           
R2
R1
S1
S2
  TREND
SILVER
38500
38300
38100
37900
  Bearish

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