25 th jan 2018 ; silver HIT sell TGT 39200
MADE HIGH OF 39020
Gold: Yesterday, MCX Gold opened on negative note, where price fell down for
the day, which may consider as profit booking after a long bullish rally. On
the weekly chart, MCX Gold has given “Symmetrical Triangle” breakout and so far
sustained above the triangle; which suggest bullish trend will continue further
for few more days. Moreover, MCX Gold Price has found the support of 21 days
EMA on daily chart. Based on the above technical aspects, we expect bullish
movement in MCX Gold prices. Gold trading range for the day is 30300-29800.
Gold is getting support at 29900 and below same could see a test of 29600 level,
And resistance is now likely to be seen at 30300, a move above could see prices
testing 29600. Gold is trading into positive zone and traders can
hold long positions until Gold closes below 29900 levels. Traders can
initiate long positions on every dips until Gold closes below 29900 levels.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
GOLD
|
30300
|
30150
|
29900
|
29600
|
BULLISH
|
Silver: We expect
silver prices to trade positive on the back of positive on the back of
speculative buying. Silver trading range for the day is 39600-38700.
Technically Silver is getting support at 39000 and below same could see a test
of 38700 level, And resistance is now likely to be seen at 39350, a move above
could see prices testing 39600. Silver is trading into positive zone
and traders can go long at every dips or hold long positions until
Silver closes below 39000 levels.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
SILVER
|
39600
|
39350
|
39000
|
38700
|
BULLISH
|
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