yesterday's BUY CALL UPDATE:
GOLD HIT TGT 30850 MADE LOW OF 30937!!!
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Gold: Gold prices pushed on Monday after a
continue downfall in previous three days.
On an hourly chart, MCX Gold has little
recovered and moved above 50%
retracement levels; which could be a
immediate support for the prices for
short term. On the other hand, COMEX
Gold price has moved back to uptrend;
which intimate some positivity in the
counter. Moreover, RSI & MACD has
shown positive crossover on daily chart.
So , we
expect bullish move in Gold for
upcoming days.
Gold trading range for the day is 31100-30650. Gold is getting support at 30800 and below same could see a test of 30650 level, And resistance is now likely to be seen at 30950, a move above could see prices testing 31100. Gold is trading into positive zone and traders can hold long positions until Gold closes below 30800 levels.
Gold trading range for the day is 31100-30650. Gold is getting support at 30800 and below same could see a test of 30650 level, And resistance is now likely to be seen at 30950, a move above could see prices testing 31100. Gold is trading into positive zone and traders can hold long positions until Gold closes below 30800 levels.
R2
|
R1
|
S1
|
S2
|
TREND
| ||
GOLD
|
31100
|
30950
|
30800
|
30650
|
SIDEWAYS
|
Silver: On the daily chart, MCX Silver has formed
morning star candlestick pattern on daily
chart; which is a bullish reversal formation
and initiate long buying in the counter. On
the other hand, MCX Silver has formed
“Symmetrical Triangle’’ formation; which is
a indecisive in nature. Furthermore, A
momentum indicator RSI (14) and MACD
are in bullish mode with positive crossover.
In addition, COMEX Silver has bounced
from lower band of Bollinger pattern, which
initiate upward trend. Therefore, we expect
bullish rally in silver towards 39300.Silver trading range for the day is 39300-38500. Technically Silver is getting support at 38700 and below same could see a test of 38500 level, And resistance is now likely to be seen at 38850, a move above could see prices testing 39100-39300. Silver is trading into positive zone and traders can go long at every dips or hold long positions until Silver closes below 38700 levels.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
SILVER
|
39300
|
39850
|
38700
|
38500
|
BULLISH
|
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