Gold: Gold trading range for the day is 31700-31200. Gold is getting support at
31350 and below same could see a test of 31200 level, And resistance is now
likely to be seen at 31550, a move above could see prices testing 31750 .Gold closed flat on Wednesday,
Gold fell on Wednesday, driven lower by a rising U.S. dollar and bond yields.
On the daily chart, price has taken a support of middle Bollinger band, which
indicate reversal in price. Forthermore, price has sustained above 50 days SMA
; which intimate medium term trend remains bullish. Therefore, we expect
positive movement in the gold towards 31550.
R2
|
R1
|
S1
|
S2
|
TREND
|
|||
GOLD
|
31700
|
31550
|
31350
|
31200
|
SIDEWAYS
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Silver:Silver trading range for the day
is 40900-39900. Technically Silver is getting support at 40150 and below same
could see a test of 39900 level, And resistance is now
likely to be seen at 40450, a move above could see prices testing 40700. Silver price closed flat on Wednesday. On a daily Chart, price has taken support of rising trend line, which suggest more bullish trend in the counter. In addition, price has sustained above 50 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 40000.
likely to be seen at 40450, a move above could see prices testing 40700. Silver price closed flat on Wednesday. On a daily Chart, price has taken support of rising trend line, which suggest more bullish trend in the counter. In addition, price has sustained above 50 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 40000.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
SILVER
|
39500
|
39300
|
39000
|
38800
|
SIDEWAYS
|
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