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
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|||
GOLD
|
31500
|
31350
|
31150
|
31000
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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.
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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