BULLION OUTLOOK FOR 01-02 AUG 2017

SELL GOLD 28800 SL 28950 TGT 28600-28500.MCX.

SELL SILVER 38800 SL 39100 TGT 38300-38000.MCX

Gold: Gold trading range for the day is 28500-28800. Gold is getting support at 28700 and below same could see a test of 28500 level, And resistance is now likely to be seen at 28800, a move above could see prices testing 28950. Gold is trading into positive zone and traders can hold long positions until Gold closes below 28500 levels. Traders can initiate long positions on every dip until Gold closes below 28500 levels.

	R2	R1	S1		S2	TREND
GOLD	28950	28800	28700		28500	Bearish

Silver: Silver trading range for the day is 38000-38800. Technically Silver is getting support at 38400 and below same could see a test of 38000 level, And resistance is now likely to be seen at 38800, a move above could see prices testing 39000. Silver is trading into positive zone and traders can go long at every dip or hold long positions until Silver closes below 38400  levels.

	R2	R1	S1		S2	TREND
SILVER	38300	38800	38400		38000	Bearish