BULLION OUTLOOK FOR 25 APRIL 2018

Gold: Gold trading range for the day is 31550-31150. Gold is getting support at 31300 and below same could see a test of 31150 level, And resistance is now likely to be seen at 31400, a move above could see prices testing 31550. Gold futures were slightly lower on Friday, in the absence of first-tier US economic data. On the daily chart, prices has taken support of 21 day SMA which indicate bullishness in the price. In addition, Price has also found the support at Middle Bollinger Band formation and shifted in to positive zone after correction. Furthermore, A momentum indicator RSI 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 31700.

	R2	R1	S1		S2	TREND
GOLD	31550	31400	31300		31200	SIDEWAYS

Silver: Silver trading range for the day is 40500-39700. Technically Silver is getting support at 40000 and below same could see a test of 39800 level, And resistance is now
likely to be seen at 40350, a move above could see prices testing 40500,40700. Silver price closed down on Friday.In addition, A momentum indicator RSI (14) and MACD has shown positive crossover on Daily chart. Therefore, we expect bullish movement in silver towards 40900.

	R2	R1	S1		S2	TREND
SILVER	40500	40350	40000		39800	SIDEWAYS