BULLION OUTLOOK FOR 07-08 DEC 2016

SELL GOLD DEC @ 27900 SL 28100 TGT 27800-27500.

SELL SILVER DEC @ 41100 SL 41250 TGT 40950-40750.

Gold:  On hourly chart, MCX Gold prices are trading in a Falling channel Formation & are trading near its lower band of trend line. Moreover, COMEX Gold prices are trading in Bullish Flag Pattern on hourly time frame. Moreover, Momentum Indicator RSI has observed Bullish divergence on hourly time frame which indicates positive momentum to the prices. For now we expect prices should move higher towards 28250 levels in the coming trading sessions.

Outlook: Technically market is under fresh selling as market has witnessed gain in open interest by 0.83% to settled at 6311 while prices down -236 rupee, now Gold is getting support at 27739 and below same could see a test of 27652 level, And resistance is now likely to be seen at 27984, a move above could see prices testing 28142.

	R2	R1	S1		S2	TREND
GOLD	28100	28000	27800		27700	SIDEWAYS

Silver: On hourly chart, MCX Silver prices are trading in a Ascending triangle Formation. Furthermore, COMEX Silver Prices are trading in a Rising Channel Formation on hourly time frame. In Addition, MCX Silver prices are trading above its 21 HEMA on hourly time frame which indicates positive momentum to the prices. For now we expect prices to move higher towards 41750 levels in few trading sessions.

Outlook:  Technically market is under fresh selling as market has witnessed gain in open interest by 2.6% to settled at 12582 while prices down -336 rupee, now Silver is getting support at 40857 and below same could see a test of 40691 level, And resistance is now likely to be seen at 41305, a move above could see prices testing 41587.

	R2	R1	S1		S2	TREND
SILVER	41500	41250	41000		40800	SIDEWAYS

BULLION OUTLOOK FOR 06-07 DEC 2016

Gold:  On hourly chart, MCX Gold prices are trading in a Falling channel Formation & are trading near its lower band of trend line. Moreover, COMEX Gold has formed Double Bottom pattern at $1158 levels on hourly time frame. Moreover, Momentum Indicator RSI has observed Bullish divergence on hourly time frame which indicates positive momentum to the prices. For now we expect prices should move higher towards 28340 levels in the coming trading sessions.

Outlook: Technically market is under fresh selling as market has witnessed gain in open interest by 1.48% to settled at 6259 while prices down -48 rupee, now Gold is getting support at 27834 and below same could see a test of 27606 level, And resistance is now likely to be seen at 28228, a move above could see prices testing 28394.

	R2	R1	S1		S2	TREND
GOLD	28100	28000	27800		27700	SIDEWAYS

Silver: On hourly chart, MCX Silver prices have completed Bullish Anti – Alternate Shark Harmonic Pattern 40550 levels. Furthermore, COMEX Silver Prices are trading in a Rising Channel Formation on hourly time frame. In Addition, MCX Silver prices are trading above its 21 HEMA on hourly time frame which indicates positive momentum to the prices. For now we expect prices to move higher towards 42000 levels in few trading sessions.

Outlook:  Technically market is under fresh buying as market has witnessed gain in open interest by 0.77% to settled at 12263 while prices up 19 rupee, now Silver is getting support at 40931 and below same could see a test of 40505 level, And resistance is now likely to be seen at 41599, a move above could see prices testing 41841.

	R2	R1	S1		S2	TREND
SILVER	41500	41200	41000		40800	SIDEWAYS

BULLION OUTLOOK FOR 05-06 DEC 2016

BUY GOLD DEC @ 27900 SL 27500 TGT 28200-28500.

BUY SILVER DEC @ 41000 SL 40500 TGT 41500-42000.

Gold:  On hourly chart, MCX Gold prices are trading in a Falling channel Formation. Moreover, MCX Gold prices are trading below its 21 HEMA which suggest short term trend remains down. Moreover, Momentum Indicator RSI is trading below 50 levels on hourly time frame which indicates negative momentum to the prices. For now we expect prices should move lower towards 27700 levels in the coming trading sessions.

Outlook: Technically market is under fresh buying as market has witnessed gain in open interest by 1.48% to settled at 6168, now Gold is getting support at 27986 and below same could see a test of 27860 level, And resistance is now likely to be seen at 28219, a move above could see prices testing 28326.

	R2	R1	S1		S2	TREND
GOLD	31000	30650	30500		30000	SIDEWAYS

Silver: On hourly chart, MCX Silver prices have completed Bullish Anti – Alternate Shark Harmonic Pattern 40550 levels. Furthermore, on COMEX Silver Prices has completed Bullish AB = CD Harmonic pattern at $16.16 levels. In Addition, MCX Silver prices are trading above its 21 HEMA on hourly time frame which indicates positive momentum to the prices. For now we expect prices to move higher towards 41950 levels in few trading sessions.

Outlook:  Technically market is under short covering as market has witnessed drop in open interest by -0.59% to settled at 12169 while prices up 696 rupee, now Silver is getting support at 40745 and below same could see a test of 40150 level, And resistance is now likely to be seen at 41702, a move above could see prices testing 42064.

	R2	R1	S1		S2	TREND
SILVER	44250	44100	44000		43750	SIDEWAYS

WEEKLY BULLION OUTLOOK FOR 02-09 DEC 2016

WEEKLY CALL UPDATE:

GOLD HIT all TGT 28500 MADE HIGH OF 27881 !!!

silver HIT all TGT 39850 MADE HIGH OF 39601!!!

SELL GOLD FEB @ 28000 SL 28500 TGT 27800-27500.

BUY SILVER FEB @ 40800 SL 40000 TGT 41300-41800.

Gold:  On hourly chart, MCX Gold prices are trading in a Falling channel Formation. Moreover, MCX Gold prices are trading below its 21 HEMA which suggest short term trend remains down. Moreover, Momentum Indicator RSI is trading below 40 levels on hourly time frame which indicates negative momentum to the prices. For now we expect prices should move lower towards 27650 levels in the coming trading sessions.

	R2	R1	S1		S2	TREND
GOLD	31000	30650	30500		30000	SIDEWAYS

Silver: On hourly chart, MCX Silver prices have completed Bullish Anti – Alternate Shark Harmonic Pattern 40550 levels. Furthermore, on COMEX Silver Prices has completed Bullish White Swan Harmonic pattern at $16.30 levels. In Addition, MCX Silver prices are trading above its 10 HEMA on hourly time frame which indicates positive momentum to the prices. For now we expect prices to move higher towards 41500 levels in few trading sessions.

	R2	R1	S1		S2	TREND
SILVER	44250	44100	44000		43750	SIDEWAYS

BULLION OUTLOOK FOR 01 -02 DEC 2016

Gold:  On hourly chart, MCX Gold prices are trading below its Horizontal Trend line. Moreover, MCX Gold prices are trading below its 21 HEMA which suggest short term trend remains down. Moreover, Momentum Indicator RSI is trading below 50 levels on hourly time frame which indicates negative momentum to the prices. For now we expect prices should move lower towards 28000 levels in the coming trading sessions.

	R2	R1	S1		S2	TREND
GOLD	28500	28300	28100		28000	SIDEWAYS

Silver: On hourly chart, MCX Silver prices are trading in Falling wedge pattern & are expected to break on the higher side. Furthermore, on COMEX Silver Prices has completed Bullish White Swan Harmonic pattern at $16.30 levels. In Addition, MCX Silver prices are trading above its 21 HEMA on hourly time frame which indicates positive momentum to the prices. For now we expect prices to move lower towards 39500 levels in few trading sessions.

	R2	R1	S1		S2	TREND
SILVER	41000	40500	40000		39800	SIDEWAYS