BULLION OUTLOOK FOR 19 APR 2018

silver HIT TGT 39500 MADE HIGH OF 39750 

Gold: Gold trading range for the day is 31600-31100. Gold is getting support at 31250 and below same could see a test of 31100 level, And resistance is now likely to be seen at 31450, a move above could see prices testing 31600. Gold futures traded up Tuesday, as Gold and silver stage a smart recovery ahead of anticipated sales on Akshaya Tritiya. Moreover, price has given “ascending channel” breakout at 31150 and continuous sustaining above that level, 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 31450.

	R2	R1	S1		S2	TREND
GOLD	31600	31450	31250		31100	SIDEWAYS

Silver:Silver trading range for the day is 40100-39000. Technically Silver is getting support at 39250 and below same could see a test of 39000 level, And resistance is now likely to be

seen at 39900, a move above could see prices testing 40100. Silver price closed up on Tuesday. On a daily Chart, Price has found the support at middle Bollinger Band formation and shifted into positive zone after correction, which indicate a reversal move in the prices. In addition, Price has sustained above “Ichimoku Cloud” where TenkanSen has crossed KijunSen, which suggest more bullish trend in the counter. In addition, A momentum indicator RSI (14) and MACD has shown positive crossover on Daily chart. Therefore, we expect bullish movement in silver towards 39900.

	R2	R1	S1		S2	TREND
SILVER	40100	39900	39250		39000	SIDEWAYS