INTRADAY BULLION TRADING LEVELS FOR 11 APR 2018

Gold: Gold trading range for the day is 30950-30500. Gold is getting support at 30650 and below same could see a test of 30500 level, And resistance is now likely to be seen at 30800, a move above could see prices testing 30950. Gold prices closed up on Monday as China is considering devaluing the Yuan in order to gain an edge in the trade war. On the daily chart, Gold has been trading between two consecutive trend line and trading in the range of 30900-30500. On the other hand, price has taken a support of lower Bollinger band which indicate reversal in the prices in short term. In addition, A momentum indicator RSI (14) has also found the support of lower trend line on daily chart; which intimate reversal sentiment in the prices. Therefore, we expect bullish move for near term.

	R2	R1	S1		S2	TREND
GOLD	30900	30750	30650		30500	SIDEWAYS

Silver:Silver trading range for the day is 38850-38000. Technically Silver is getting support at 38350 and below same could see a test of 38100 level, And resistance is now
likely to be seen at 38600, a move above could see prices testing 38850. MCX Silver price closed flat on Monday. Overall, daily MCX Silver has formed “Symmetrical Triangle’’ formation; which is a indecisive in nature while global sentiment are positive for bullion; which will give more positive strength to the prices. On the other hand, price is taking a support of lower Bollinger band which indicate reversal in the price in short term. Furthermore, A momentum indicator RSI (14) and MACD are also moving near the crossover point on daily chart. Therefore, we expect bullish movement in silver towards 38800.

	R2	R1	S1		S2	TREND
SILVER	38850	38600	38350		38100	BULLISH