BULLION OUTLOOK FOR 17-18 OCT 2017

May this auspicious festival bring you and your family health, wealth and success. "Wishing you a very Happy Diwali. May all have a super successful trading year."

Gold: Gold trading range for the day is 29550-29900. Gold is getting support at 29660 and below same could see a test of 29500 level, And resistance is now likely to be seen at 29800, a move above could see prices testing 29900. Gold is trading into a negative zone and traders can hold sell positions until Gold closes above 29800 levels. Traders can initiate short positions on every rise until Gold closes above 29800 levels.

	R2	R1	S1		S2	TREND
GOLD	29900	29800	29660		28500	Bearish

Silver: Silver trading range for the day is 40400-39600. Technically Silver is getting support at 39900 and below same could see a test of 39600 level, And resistance is now likely to be seen at 40200, a move above could see prices testing 40400. Silver is trading into the negative zone and traders can go short at every rise or hold short positions until Silver closes above 40200  levels.

	R2	R1	S1		S2	TREND
SILVER	40500	40200	39900		39600	Bearish