8 June 2017

BULLION OUTLOOK FOR 08-09 JUNE 2017

SELL GOLD @ 29400 SL 29650 TGT 29300-29200.

SELL SILVER @ 40600 SL 40850 TGT 40440-40280.

Gold: Gold trading range for the day is 29301-29613. Technically now Gold is getting support at 29370 and below same could see a test of 29301 level, And resistance is now likely to be seen at 29526, a move above could see prices testing 29613. Gold Future is trading into positive zone and traders can hold long positions until Gold Future closes below 29184 levels. Traders can initiate long positions on every dip until Gold Future closes below 29184 levels.

           
R2
R1
S1
S2
TREND
GOLD
29650
29500
29300
29150
Bearish
Silver: Silver trading range for the day is 40207-40963. Silver is getting support at 40380 and below same could see a test of 40207 level, And resistance is now likely to be seen at 40758, a move above could see prices testing 40963. Silver is trading into positive zone and traders can go long at every dip or hold long positions until Silver closes below 40171  levels.

           
R2
R1
S1
S2
  TREND
SILVER
41000
40700
40500
40200
  Bearish