12 April 2018

BULLION INTRADAY TRADING LEVELS FOR 13 APR 2018


Gold: Gold trading range for the day is 31600-30900. Gold is getting support at 31150 and below same could see a test of 31000 level, And resistance is now likely to be seen at 31350, a move above could see prices testing 31500. Gold prices closed up on Wednesday as U.S. President Trump has signaled via a tweet earlier today that he intends to implement missile strikes against Syria, On the other hand, price has given consecutive trendline breakout which indicate positive strength in the prices . In addition, A momentum indicator RSI (14) and MACD has shown positive crossover on Daily chart. which intimate positive sentiment in the prices. Therefore, we expect bullish movement in silver towards 31600.
           
R2
R1
S1
S2
TREND

GOLD
31500
31350
31150
31000
SIDEWAYS
Silver: Silver trading range for the day is 39600-38500. Technically Silver is getting support at 38850 and below same could see a test of 38550 level, And resistance is now likely to be


seen at 39150, a move above could see prices testing 39350. Silver price closed up on Wednesday. Overall, daily Silver has given “Symmetrical Triangle’’ breakout; which indicate positive strength in the prices . Moreover, Volume has been rising significantly on the chart; which gives more strength to move the prices upward. Furthermore, A momentum indicator RSI (14) and MACD are also moving near the crossover point on daily chart. Therefore, we expect bullish movement in silver towards 39600.
           
R2
R1
S1
S2
  TREND
SILVER
39350
39150
38850
38550
  BULLISH

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