BULLION TRADING LEVELS FOR 26 APR 2018

Gold: Gold trading range for the day is 31550-31100. 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 31400, a move above could see prices testing 31550. Gold was lower on Monday, weighed down by a strengthening U.S. dollar and a rise in U.S. Treasury yields. On the daily chart, Gold price has been retreated form upper band of “Bollinger Pattern” on daily chart. Which indicate further downtrend in the counter. Furthermore, A momentum indicator RSI has shown negative crossover on Daily chart. which intimate negative sentiment in the prices. Therefore, we expect negative movement in the gold towards 31150.

	R2	R1	S1		S2	TREND
GOLD	31550	31400	31250		31100	SIDEWAYS

Silver:Silver trading range for the day is 39750-39000. Technically Silver is getting support at 39200 and below same could see a test of 39000 level, And resistance is now
likely to be seen at 39500, a move above could see prices testing 39700. Silver price closed down on Monday. On a daily Chart, In addition, price has sustained below 21 days SMA; which intimate medium term trend remains bearishness. In addition, price has been retreated form upper band of “Bollinger Pattern” on daily chart. Which indicate further downtrend in the counter. A momentum indicator RSI (14) has shown Negative crossover on Daily chart. Therefore, we expect bearish movement in silver towards 39200.

	R2	R1	S1		S2	TREND
SILVER	39750	39500	39200		39000	SIDEWAYS