BULLION OUTLOOK FOR 18-19 SEP 20107

weekly CALL UPDATE:

GOLD HIT all TGT 29650!!!

silver HIT all TGT 40500!!!

Gold: Gold trading range for the day is 29850-29500. Gold is getting support at 29600 and below same could see a test of 29450 level, And resistance is now likely to be seen at 29800, a move above could see prices testing 29950. Gold is trading into negative zone and traders can hold sell positions until Gold closes above 30000 levels. Traders can initiate short  positions on every rise until Gold closes above 30000 levels.

	R2	R1	S1		S2	TREND
GOLD	30050	29900	29600		29450	Bearish

Silver: Silver trading range for the day is 40800-40300. Technically Silver is getting support at 40500 and below same could see a test of 40300 level, And resistance is now likely to be seen at 40700, a move above could see prices testing 40900. Silver is trading into negative zone and traders can go short at every rise or hold short positions until Silver closes above 41000  levels.

	R2	R1	S1		S2	TREND
SILVER	41300	41000	40500		40300	Bearish