BULLION OUTLOOK FOR 28-19 JUNE 2017

BUY GOLD @ 28700 SL 27550 TGT 28820-29100.

BUY SILVER @ 38750 SL 39400 TGT 39100-39500.

Gold: Gold trading range for the day is 28620-28800. Gold price has taken the support of its rising trend line at 28250 levels on a daily hourly chart. On the other hand, momentum indicator MACD has shown positive crossover on the hourly chart. The momentum indicator RSI has above below 40 levels on the hourly chart. Therefore, we expect the Gold price to move higher towards 28850 levels.

	R2	R1	S1		S2	TREND
GOLD	28226	28150	28050		27950	Bullish

Silver: Silver trading range for the day is 38700-39300. Silver price taken the support of its trend line at 38600 level on a daily chart and price has formed double bottom formation, which is bullish reversal pattern. In addition, The momentum indicator RSI has taken the support of its horizontal line on the hourly chart, which suggests the possibilities of further correction in the prices. Therefore, we expect the Silver price to move higher towards 39100 level.

	R2	R1	S1		S2	TREND
SILVER	38500	38300	38100		37900	Bullish