WEEKLY BULLION TRADING RANGE FOR 19-23 FEB 2018

YESTERDAY’S CALL UPDATE:

gold hit target 30780 made high of 30838
SILVER HIT TGT 38850 MADE HIGH OF 38870 !!

Gold: Gold price has moved above the horizontal line which it was earlier finding resistance. On the lower end price found support at the 21 EMA on the daily chart and moved up smartly. On the higher end price moved above 200 DEMA on hourly chart. In addition, price has given “ascending triangle” breakout on the hourly chart. Hourly RSI (14) is in bullish crossover. For the day bias is expected to remain strong.
Gold trading range for the day is 30950-30450. Gold is getting support at 30650 and below same could see a test of 30450 level, And resistance is now likely to be seen at 30840, a move above could see prices testing 30950. Gold is trading into positive zone and traders can hold long positions until Gold closes below 30650 levels. Traders can initiate long
 positions on every dips until Gold closes below  30650  levels.

	R2	R1	S1		S2	TREND
GOLD	30950	30840	30650		30450	BULLISH

Silver: Silver has reached to the upper side of the falling price where it found initial resistance. A decisive breakout above the falling wedge may trigger an upward rally in Silver price. In earlier move price has retested the breakout zone. In addition, price has found support around the 78.60% of the rise from 36672 to 40180. On the daily chart, RSI (14) is in bullish crossover and rising. For the day price may remain strong.Silver trading range for the day is 39150-38200. Technically Silver is getting support at 38550 and below same could see a test of 38200 level, And resistance is now likely to be seen at 38900, a move above could see prices testing 39150. Silver is trading into positive zone and traders can go long at every dips or hold long  positions until Silver closes below 38550  levels.

	R2	R1	S1		S2	TREND
SILVER	39150	38900	38550		38400	BULLISH