30 August 2016

SILVER OUTLOOK FOR 30-31 AUG 2016

SELL SILVER @ SEP 44200 SL 44350 TGT 44000-43800
Silver:   Silver prices recovered from its intraday lows at 43559 levels yesterday. The counter has found support between 43750—43521 zones since the past 2-3 sessions. Thus, we expect the counter to pullback towards 44723/45150 levels until 43500 holds on the downside. A daily close below 43500 will extend the correction towards 42950/42700 levels.
Outlook:  We expect Silver prices to trade negative
           
R2
R1
S1
S2
TREND
SILVER
44500
44300
44000
43900
SIDEWAYS
Gold:  Oct. Gold prices are trading on weak note currently. A decisive break down below 30851 levels will open downside targets of 30725/30669 levels for the counter. Momentum above 31000 levels will push prices higher towards 31093 levels. A daily close above 31100 levels will open upside targets of 31190/31246 levels.
Outlook: We expect gold prices to trade negative .
           
R2
R1
S1
S2
TREND
GOLD
31150
31050
30900
30750
BEARISH

29 August 2016

GOLD OUTLOOK FOR 29- 30 AUG 2016

SILVER ROCKSSSS HIT ALL TGT 44600 MADE HIGH OF 44705 GIVEN ON 26 AUG 2016
BUY GOLD OCT @ 31000 SL 30800 TGT 31200-31400
Gold:  Gold trading range for the day is 30638-31496. Technically now Gold is getting support at 30814 and below same could see a test of 30638 level, And resistance is now likely to be seen at 31243, a move above could see prices testing 31496. In the previous week, Gold prices remained quite volatile. After opening 31125 it moved up till 31415 and thereafter witnessed a sharp correction and tumbled to the low of 30851 and finally settled at 30990. Prices have breached the symmetrical triangle pattern and ended below it. On the weekly chart, the long term trend line support lies at 30660 and in coming session price could test these support of 30660 and re-bounce from the same towards 31200 then 31400 levels. Therefore we recommend to initiate long positions on dips.
Outlook: We expect gold prices to trade positive .
           
R2
R1
S1
S2
TREND
GOLD
31150
31000
30880
30750
BULLISH

26 August 2016

BULLION OUTLOOK FOR NEXT WEEK 29 AUG -02 SEP

BUY SILVER OCT @ 44000 SL 44200 TGT 44500-44600
Gold:  Oct. Gold prices moved lower towards the lower end of its trading range around 31020 levels yesterday. Sustenance below 30950 will trigger a range breakdown. Prices will correct towards 30738/30669 levels in that case. Pullback rallies will face resistance 31156—31200 zones.
Outlook: We expect gold prices to trade positive .
           
R2
R1
S1
S2
TREND
GOLD
31500
31100
30900
30750
BULLISH
Silver:  Silver prices are trading around its immediate support at 43700 levels. Momentum above 43967 levels will trigger an intraday bounce towards 44250/44400 areas. Sustenance below 43700 areas for few sessions will extend the correction towards 43000/42700 levels.
Outlook:  We expect Silver prices to trade positive

           
R2
R1
S1
S2
TREND
SILVER
44200
44000
43800
43600
BULLISH

24 August 2016

TECHNICAL OUTLOOK OF GOLD FOR 24-25 AUG 2016

BUY GOLD OCT @ 31300 SL 31080 TGT 31520-31780
           
R2
R1
S1
S2
TREND
GOLD
31500
31360
31250
31130
BULLISH
Outlook: We expect gold prices to trade positive .
Gold:  Gold trading range for the day is 31197-31501. Gold settled flat as markets shifted focus from comments by Fed official over the weekend to a meeting of global central bankers later this week. U.S. Federal Reserve Chair Janet Yellen may provide more clarity on interest rates in a speech at the meeting of central bankers. Indian gold refiner’s just months ago were ramping up capacity and struggling to secure enough ore from miners. Gold on MCX settled down -0.03% at 31370 traded in steady range in yesterday's session as traders weighed a trickle of economic data ahead of this week's big Jackson Hole meeting. While The flash manufacturing purchasing managers index from Markit fell to a reading of 52.1 this month from 52.9 in July. However, taking the July and August readings together suggests that manufacturing is enjoying its best growth so far this year in the third quarter, and should help drive stronger GDP growth. On Technically market is getting support at 31283 and below same could see a test of 31197 level, And resistance is now likely to be seen at 31435, a move above could see prices testing 31501.

23 August 2016

TECHNICAL ANALYSIS OF GOLD FOR 23-24 AUG 2016

Gold:  Gold hit a two-week low on Monday as upbeat comments from Federal Reserve officials on the U.S. economy boosted expectations that the central bank could lift interest rates sooner rather than later. Gold on MCX settled down -0.08% at 31379 as Comex Gold hit a two-week low was down 0.3 percent at $1,336.99 an ounce as upbeat comments from Federal Reserve officials on the U.S. economy boosted expectations that the central bank could lift interest rates sooner rather than later. Gold is highly sensitive to rising U.S. interest rates, which boost the opportunity cost of holding non-yielding gold, while lifting the dollar, in which it is priced. In the week ahead, market players will turn their attention to a highly anticipated speech by Fed Chair Janet Yellen at the annual meeting of top central bankers and economists in Jackson Hole, Wyoming, for fresh clues on the timing of the next U.S. rate hike. Technically market is getting support at 31257 and below same could see a test of 31135 level, And resistance is now likely to be seen at 31448, a move above could see prices testing 31517.
Outlook: We expect gold prices to trade negative .
           
R2
R1
S1
S2
TREND
GOLD
31500
31380
31200
31000
SIDEWAYS

22 August 2016

MARKET OUTLOOK OF SILVER 22-23 AUG 2016

Silver:  After six weeks of consolidation, Silver prices finally breached the crucial neckline support of “Ascending triangle” pattern and ended below it. The medium term outlook has turned bearish and according to the pattern the targets are project till 42000 /41800 levels, which is exactly the support of a major trend line support drawn connecting the lower bottoms. The momentum indicator MACD has turned bearish on daily, while on weekly the averages are making negative cross over. Looking at, above scenario, we expect the silver prices to trade lower and will draw down till the support of 42000 levels in the coming sessions. Traders are recommended to sell around 45550 for targets of 44400 then 43000 levels for the week.
           
R2
R1
S1
S2
TREND
SILVER
46300
46100
45500
44400
SIDEWAYS
Outlook:  We expect Silver prices to trade negative on the back of US non-farm payroll data released on Friday.

19 August 2016

MARKET OUTLOOK OF GOLD FOR 19 AUG 2016

           
R2
R1
S1
S2
TREND
GOLD
31600
31500
31100
30900
SIDEWAYS
Gold:  Gold rose on Thursday buoyed by a weaker dollar after minutes from the U.S. Federal Reserve's July meeting showed policymakers were divided over whether to raise interest rates soon. Meanwhile US data reports showed the number of Americans filing for unemployment benefits fell more than expected last week while manufacturing activity in the U.S. Mid-Atlantic region saw a mild improvement this month. This limited upside in bullion prices. However, prices were weak on Friday morning in Asian trade after New York Fed President William Dudley said strong recent U.S. job growth and a long-awaited return of middle-wage employment are two positive signs for the labor market, appearing to reinforce his more confident message on a possible interest rate hike. In other news,