BULLION TRADING LEVELS FOR 02 MAY 2018

Gold:  Gold trading range for the day is 31450-30900. Gold is getting support at 31000 and below same could see a test of 30900 level, And resistance is now likely to be seen at 31200, a move above could see prices testing 31400 . Gold closed flat on Friday, but is likely to revisit five-week lows .On the daily chart, price has taken a support of lower Bollinger band, which indicate reversal in price . In addition, price has sustained above 100 days SMA ;which intimate medium term trend remains bullish. Therefore, we expect positive movement in the gold towards 31350

	R2	R1	S1		S2	TREND
GOLD	31400	31200	31000		30900	SIDEWAYS

Silver: Silver trading range for the day is 39400-38400. Technically Silver is getting support at 38750 and below same could see a test of 38400 level, And resistance is now

likely to be seen at 39000, a move above could see prices testing 39400. Silver price closed down on Friday. On a daily Chart, price has sustained above 100 days SMA ; which intimate medium term trend remains bullish. On the other hand, price has taken a support of middle Bollinger band, which indicate reversal in price. Therefore, we expect positive movement in silver towards 39500.

	R2	R1	S1		S2	TREND
SILVER	39400	39000	38750		38400	SIDEWAYS