2 December 2016

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!!!

BUY 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

1 December 2016

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


30 November 2016

BULLION OUTLOOK FOR 01 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 28200 levels in the coming trading sessions.
Outlook: Technically market is under fresh buying as market has witnessed gain in open interest by 1.39% to settled at 7066 while prices up 381 rupee, now Gold is getting support at 28500 and below same could see a test of 28000 level, And resistance is now likely to be seen at 28900, a move above could see prices testing 29300.
           
R2
R1
S1
S2
TREND
GOLD
29300
28900
28500
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 higher towards 41100 levels in few trading sessions.
Outlook:  Technically market is under short covering as market has witnessed drop in open interest by -6.46% to settled at 12883, now Silver is getting support at 40500 and below same could see a test of 40000 level, And resistance is now likely to be seen at 41000, a move above could see prices testing 41500.
           
R2
R1
S1
S2
TREND
SILVER
41500
41000
40500
40000
SIDEWAYS

29 November 2016

TECHNICAL BULLION OUTLOOK FOR 29-30 NOV 2016

Gold Outlook: 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 28200 levels in the coming trading sessions.
           
R2
R1
S1
S2
TREND
GOLD
28950
28850
28650
28500
SIDEWAYS
Silver Outlook:  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 higher towards 41100 levels in few trading sessions.
           
R2
R1
S1
S2
TREND
SILVER
41000
40900
40500
40200
SIDEWAYS

28 November 2016

BULLION OUTLOOK FOR 28-29 NOV 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 28200 levels in the coming trading sessions.
Outlook: Technically market is under fresh buying as market has witnessed gain in open interest by 1.39% to settled at 7066 while prices up 381 rupee, now Gold is getting support at 30448 and below same could see a test of 30231 level, And resistance is now likely to be seen at 30784, a move above could see prices testing 30903.
           
R2
R1
S1
S2
TREND
GOLD
29700
29000
28500
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 higher towards 41100 levels in few trading sessions.
Outlook:  Technically market is under short covering as market has witnessed drop in open interest by -6.46% to settled at 12883, now Silver is getting support at 43722 and below same could see a test of 43365 level, And resistance is now likely to be seen at 44318, a move above could see prices testing 44557.
           
R2
R1
S1
S2
TREND
SILVER
41500
41000
40500
40000
SIDEWAYS