BULLION OUTLOOK FOR 18 APR 2018

Gold: Gold trading range for the day is 31550-31050. Gold is getting support at 31200 and below same could see a test of 31050 level, And resistance is now likely to be seen at 31400, a move above could see prices testing 31550. Gold futures traded up Monday, as the dollar fell, but gains were muted as financial markets bet that air strikes on Syria would not escalate into a wider conflict. Moreover, price has taken middle Bollinger band support a at 30950. which indicate a reversal move 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 the gold towards 31400.

	R2	R1	S1		S2	TREND
GOLD	31550	31400	31200		31050	SIDEWAYS

Silver: Silver trading range for the day is 39500-38800. Technically Silver is getting support at 39000 and below same could see a test of 38800 level, And resistance is now

likely to be seen at 39300, a move above could see prices testing 39500. Silver price closed up on Monday. On a daily Chart, MCX Silver has taken support of Ichimoku cloud; which indicate a reversal move in the prices. Moreover, price has taken support of 21days SMA on the daily chart which suggests a positive momentum in the price for the short term. In addition, A momentum indicator RSI (14) and MACD has shown positive crossover on Daily chart. Therefore, we expect bullish movement in silver towards 39600.

	R2	R1	S1		S2	TREND
SILVER	39500	39300	39000		38800	SIDEWAYS