BULLION OUTLOOK FOR 17-18 AUG 2017

Gold: Gold trading range for the day is 29400-28900. Gold is getting support at 29000 and below same could see a test of 28800 level, And resistance is now likely to be seen at 29200, a move above could see prices testing 29500. Gold is trading into positive zone and traders can hold long positions until Gold closes below 28800 levels. Traders can initiate long positions on every dip until Gold closes below 28800 levels.

	R2	R1	S1		S2	TREND
GOLD	29350	29200	29000		28800	Bearish

Silver: Silver trading range for the day is 39500-38500. Technically Silver is getting support at 39000 and below same could see a test of 38500 level, And resistance is now likely to be seen at 39300, a move above could see prices testing 39500. Silver is trading into positive zone and traders can go long at every dip or hold long positions until Silver closes below 38500  levels.

	R2	R1	S1		S2	TREND
SILVER	39500	39300	39000		38800	Bearish