26 September 2016

BULLION OUTLOOK OF 26-27 SEP 2016

BUY SILVER DEC @ 46400 SL 47250 TGT 46550-46800.MCX

BUY GOLD OCT @ 31300 SL 31000 TGT 31400-31480.MCX



Gold:  Gold trading range for the day is 31134-31424. Gold prices settled flat but ended with gains on weekly basis after Fed sounded a cautious note on the pace of interest rate hikes. In India, discount over the global spot gold benchmark narrowed to $12 an ounce, from $20 last week. Asian physical gold demand remained subdued in the week ahead of a national holiday in China.
Outlook: Technically market is under long liquidation as market has witnessed drop in open interest by -6.2% to settled at 6841 while prices down -51 rupee, now Gold is getting support at 31208 and below same could see a test of 31134 level, And resistance is now likely to be seen at 31353, a move above could see prices testing 31424.
           
R2
R1
S1
S2
TREND
GOLD
31390
31310
31200
31000
BULLISH
Silver:  Silver trading range for the day is 46244-47702. Silver dropped as investors chose to lock in profits after gains seen as the Fed’s decision to leave interest rates unchanged continued to support. Boston Fed President Eric Rosengren said that he believed interest rates should be raised gradually now. Holdings at ishares silver trust gained by 0.29% i.e. 32.48 tonnes to 11337.95 tonnes from 11305.47 tonnes.
Outlook:  Technically market is under long liquidation as market has witnessed drop in open interest by -7.89% to settled at 8146, now Silver is getting support at 46531 and below same could see a test of 46244 level, And resistance is now likely to be seen at 47260, a move above could see prices testing 47702.
           
R2
R1
S1
S2
TREND
SILVER
47000
46600
46300
46100
BULLISH

23 September 2016

COMMODITY OUTLOOK OF 23-30 SEP 2016

YETERDAY’S CALL UPDATE:
GOLD HIT TGT 31350 MADE HIGH OF 31379 !!!
SILVER HIT TGT 47380 MADE HIGH OF 47635!!!

"BUY GOLD OCT @ 31200 SL 31050 TGT 31350-31550."

"BUY SILVER DEC @ 47200 SL 46550 TGT 47500 -47600."

"BUY CRUDE OIL OCT @ 3030 SL 2990 TGT 3080-3120."

Gold: Gold trading range for the day is 31067-31513.Oct. Gold prices couldn’t sustain at its intraday highs at 31295 levels. If the weakness persists then prices will correct further towards support between 31130—31100 zones. Intraday reversals from these zones can be bought into by traders. A re-test of 30800 levels will be seen only on a break down below 31000 levels.
Outlook: Technically market is under fresh buying and getting support at 31200 and below same could see a test of 31067 level, And resistance is now likely to be seen at 31423, a move above could see prices testing 31513.
           
R2
R1
S1
S2
TREND
GOLD
31425
31300
31200
31000
BULLISH
Silver:  Silver trading range for the day is 46859-47989.Dec. Silver prices needs to sustain above 47350 levels for the rally to advance towards next upside target around 47694 levels. Immediate support on dips is seen around 47050 levels below which prices will correct towards 46930/46650 levels. The broader view for the counter stays positive until 46000 levels holds on dips
Outlook:  Technically market is under fresh buying as market has witnessed gain in open interest by 8.1% to settled at 8844 while prices up 399 rupee, now Silver is getting support at 47213 and below same could see a test of 46859 level, And resistance is now likely to be seen at 47778, a move above could see prices testing 47989.
           
R2
R1
S1
S2
TREND
SILVER
47650
47350
47000
46900
BULLISH
CRUDEOIL: Crudeoil trading range for the day is 3042-3140.We expect the current rally in Oct. Crude oil prices to extend up to 3100—3115 areas. Fresh selling is likely to come in as prices approach higher levels. Thus, day traders can look to open short positions as prices approach resistance areas. Any major downside though will be seen only on a break down below 3000
Outlook : Technically market is under short covering and getting support at 3071 and below same could see a test of 3042 level, And resistance is now likely to be seen at 3120, a move above could see prices testing 3140.
           
R2
R1
S1
S2
TREND
CRUDEOIL
3150
3120
3040
3010
SIDEWAYS

22 September 2016

BULLION OUTLOOK FOR 22-23 SEP 2016

YETERDAY’S CALL UPDATE:
GOLD HIT TGT 31200 MADE HIGH OF 31295 !!!
SILVER HIT TGT 46850 MADE HIGH OF 47380!!!

BUY GOLD OCT @ 31150 SL 30950 TGT 31350-31560.MCX

BUY SILVER DEC @ 46950 SL 46550 TGT 47380-47850.MCX

Gold:  Gold trading range for the day is 30698-31492. Gold gained after BOJ adopted a target for long-term interest rates, and further gains were expected if the U.S. central bank holds back from a rate increase. Federal Reserve left its policy interest rate unchanged to await more evidence of progress toward its goals. SPDR gold trust holdings gained by 0.60% i.e. 5.64 tonnes to 944.39 tonnes from 938.75 tonnes. Technically market is getting support at 30952 and below same could see a test of 30698 level, And resistance is now likely to be seen at 31349, a move above could see prices testing 31492.
Outlook: We expect gold prices to trade positive .
           
R2
R1
S1
S2
TREND
GOLD
31400
31300
31200
31000
BULLISH
Silver:  Silver trading range for the day is 45360-48230. Silver gained after BOJ announced new monetary policy measures and as investors awaited the outcome of the Federal Reserve's meeting. The Federal Reserve left interest rates unchanged, but signaled that a rate increase was likely before the year’s end. Fed Chairwoman Janet Yellen stated that the fed remains data dependent, “and the recent data just does not support a move higher.”

21 September 2016

TECHNICAL OUTLOOK OF BULLION FOR 21-22 SEP 2016

yeterday’s call update:

gold hit tgt 31050 made high of 31100

silver hit tgt 46380 made high of 46690

BUY GOLD OCT @ 30900 SL 30650 TGT 31050-31200.

BUY SILVER DEC @ 45950 SL 45650 TGT 46380-46850.

Gold:  Gold trading range for the day is 30776-31124. Gold steadied ahead of a two-day U.S. Federal Reserve meeting that investors are betting will leave interest rates unchanged. Investors will listen closely to Fed Chair Janet Yellen's speech for any hint that the central bank could raise rates before the end of the year. SPDR gold trust holdings dropped by 0.41% i.e. 3.86 tonnes to 938.75 tonnes from 942.61 tonnes. Technically market is getting support at 30850 and below same could see a test of 30776 level, And resistance is now likely to be seen at 31024, a move above could see prices testing 31124.
Outlook: We expect gold prices to trade positive .
           
R2
R1
S1
S2
TREND
GOLD
31325
31100
31000
30800
BULLISH
Silver:  Silver trading range for the day is 45684-46472. A range of mixed economic figures and conflicting remarks by key Fed policymakers have kept investors guessing over the timing of the next U.S. rate increase. Silver rose as the dollar dropped ahead of a two-day U.S. Federal Reserve meeting that investors are betting will leave interest rates unchanged. New residential construction in the U.S. pulled back by much more than expected in the month of August, the Commerce Department revealed in a report. Technically market is

20 September 2016

BULLION OUTLOOK FOR 20-21 SEP 2016

YESTEDAY’S GOLD HIT TGT 30980 MADE HIGH OF 31050

BUY GOLD OCT @ 30850 SL 30650 TGT 31050-31200
BUY SILVER DEC @ 45950 SL 45650 TGT 46380-46850
Gold:  Gold trading range for the day is 30821-31021. Gold prices rose as the dollar slipped, with the market waiting for clues on the timing of a rise in U.S. interest rates, The Fed's two-day meeting starts on Tuesday, where policymakers will debate the U.S. economy and its ability to absorb a rate hike. The U.S. CFTC showing hedge funds and money managers cutting their net long positions in COMEX gold contracts in the week to Sept. 13.MCX Gold prices are trading in a falling channel formation on hourly time frame. On the other hand, prices have been trading below 50 HEMA on hourly chart. Looking at ADX, negative directional index (-DMI) is in domination position with rising average direction index. Moreover, Momentum Indicator RSI is trading below 50 levels on hourly time frame. For now we expect prices should move lower towards 30550 levels in the coming trading sessions.
Outlook: Technically market is under short covering as market has witnessed drop in open interest by -2.08% to settled at 7336 while prices up 90 rupee, now Gold is getting support at 30862 and below same could see a test of 30821 level, And resistance is now likely to be seen at 30962, a move above could see prices testing 31021.
           
R2
R1
S1
S2
TREND
GOLD
31200
31100
31000
30750
BULLISH
Silver:  Silver trading range for the day is 45328-46624. The economic growth outlook also took a hit from other data showing a drop in manufacturing output last month. Silver prices remained supported as the U.S. dollar slipped amid expectations of no rate change from the Federal Reserve this week. Holdings at share’s silver trust gained by 0.29% i.e. 32.49 tonnes to 11305.47 tonnes from 11272.98 tonnes COMEX Silver prices observed breakout of its Rectangle pattern at $19.27 levels on hourly time frame. Furthermore, MCX Silver prices are

19 September 2016

BULLION OUTLOOK FOR 19-20 SEP 2016

BUY GOLD @ 30800 SL 30650 TGT 30980-31100

SELL SILVER @ 45900 SL 46100 TGT 45700-45500
Gold:  Gold trading range for the day is 30715-30983. Gold dropped after data showing faster-than-expected growth in U.S. consumer prices last month helped support the case for Fed to raise interest rates. With an improvement in consumer expectations offset by a deterioration in views of current economic conditions, University of Michigan showed a report. SPDR gold trust holdings gained by 1.11% i.e. 10.39 tonnes to 942.61 tonnes from 932.22 tonnes. Technically market is under long liquidation as market has witnessed drop in open interest by -2.78% to settled at 7492 while prices down -97 rupee, now Gold is getting support at 30764 and below same could see a test of 30715 level, And resistance is now likely to be seen at 30898, a move above could see prices testing 30983.
Outlook: We expect gold prices to trade positive .
           
R2
R1
S1
S2
TREND
GOLD
31100
31000
30800
30700
BULLISH
Silver:  Silver trading range for the day is 44759-45857. Silver prices dropped as a stronger U.S. dollar and jitters over the path of monetary policy weighed on demand. Retail sales in the U.S. fell by more than expected in the month of August, the Commerce Department revealed in a report showed. Reflecting pullbacks in manufacturing and utilities output, a report on showing that U.S. industrial production fell by more than expected.
Outlook:  We expect Silver prices to trade negative.
           
R2
R1
S1
S2
TREND
SILVER
46200
46000
45600
45400
BEARISH

16 September 2016

WEEKLY BULLION OUTLOOK FOR 19-23 SEP 2016

yesterday’s call update:  

gold rocks hit all 31160 made high of 31160

silver rocks hit all 45950 made high of 46065

last weekly gold sell call hit all tgt 31000 
SELL GOLD OCT @ 31100 SL 31350 TGT 30850-30700
SELL SILVER  @ 45500 SL 45800 TGT 45200-45000

Gold: 

Gold trading range for the day is 30574-31346. Gold prices dropped as investors digested the release of a host of U.S. economic data. Data released earlier showed that retail sales in the U.S. declined for the first time in five months, fueling concerns over the economic outlook. SPDR gold trust holdings dropped by 0.35% i.e. 3.27 tonnes to 932.22 tonnes from 935.49 tonnes. MCX Gold prices are trading in a falling channel formation on hourly time frame. On the other hand, prices have been trading below 50 HEMA on hourly chart. Furthermore, ADX indicator is trading below 25 which indicates lack of strength. Moreover, Momentum Indicator RSI is trading below 50 levels on hourly time frame. For now we expect prices should move lower towards 30550 levels in the coming trading sessions.
Outlook: Technically market is under long liquidation as market has witnessed drop in open interest by -2.86% to settled at 7706 while prices down -128 rupee, now Gold is getting support at 30742 and below same could see a test of 30574 level, And resistance is now likely to be seen at 31128, a move above could see prices testing 31346.
           
R2
R1
S1
S2
TREND
GOLD
31100
31000
30800
30600
BEARISH
Silver: Silver trading range for the day is 44872-46454. Silver recovered to end with gains after prices slipped as the dollar and equities edged upwards, curbing the metal's demand ahead of Fed meeting. The Commerce Department said that retail sales dropped 0.3% from the prior month, compared to the forecast for a decline of 0.1%. The number of people who filed for unemployment assistance in the U.S. last week rose less than expected. MCX Silver