23 February 2017

WEEKLY BULLLION OUTLOOK FOR 27 FEB 02 MAR

SELL GOLD @ 29400 SL 29580 TGT 29220-29080.

SELL SILVER @ 42650 SL 43000 TGT 42400-42200.

Gold: Gold trading range for the day is 29071-29413. Technically market is getting support at 29139 and below same could see a test of 29071 level, And resistance is now likely to be seen at 29310, a move above could see prices testing 29413. MCX Gold price has given a breakout of its Cup & Handle pattern at 28870 levels on a daily chart and price has almost retested its breakout trend line levels. Moreover, MCX Gold prices have been trading above 21 DEMA on the daily chart. Moreover, Momentum Indicator RSI has shown bullish range shift on the daily chart.
           
R2
R1
S1
S2
TREND
GOLD
29380
29300
29200
29000
Bearish
Silver: Silver trading range for the day is 42462-42990.Technically market is getting support at 42587 and below same could see a test of 42462 level, And resistance is now likely to be seen at 42851, a move above could see prices testing 42990. On a daily chart, MCX Silver price has given a breakout of its inverted Head & Shoulder neckline at 41980 levels and price has rested its neckline breakout.. Moreover, MCX Silver prices have been trading above its 50 DEMA. In addition, momentum indicator RSI has remained above 60 levels, which indicates possibilities of further upside in the prices
           
R2
R1
S1
S2
  TREND
SILVER
42800
42700
42500
42000
  Bearish

22 February 2017

BULLION OUTLOOK FOR 22-23 FEB 2017

YESTERDAY'S CALL UPDATE:

GOLD HIT ALL TGT 29280 MADE HIGH OF 29330

SILVER HIT ALL TGT 42880 MADE HIGH OF 42929

SELL GOLD APR 2017 @ 29400 SL 29580 TGT 29220-29080.

SELL SILVER MAR 2017 @ 43100 SL 43380 TGT 42880-42650.

Gold: Gold trading range for the day is 28980-29490. Technically market is under long liquidation as market has witnessed drop in open interest by -3.08% to settled at 6318 while prices down -2 rupees, now Gold is getting support at 29140 and below same could see a test of 28980 level, And resistance is now likely to be seen at 29395, a move above could see prices testing 29490.
           
R2
R1
S1
S2
TREND
GOLD
29500
29350
29200
29000
BEARISH
Silver: Silver trading range for the day is 42213-43241. Technically market is under long liquidation as market has witnessed drop in open interest by -6.29% to settled at 10610 while prices down -64 rupees, now Silver is getting support at 42525 and below same could see a test of 42213 level, And resistance is now likely to be seen at 43039, a move above could see prices testing 43241.
           
R2
R1
S1
S2
  TREND
SILVER
43000
42900
42500
42300
  BEARISH

21 February 2017

BULLION OUTLOOK FOR 21-22 FEB 2017

BUY GOLD @ 29100 SL 29000 TGT 29200-29280.

 BUY SILVER @ 42500 SL 42100 TGT 42720-42880.

Gold: Gold trading range for the day is 29144-29404. Technically market is getting support at 29223 and below same could see a test of 29144 level, And resistance is now likely to be seen at 29353, a move above could see prices testing 29404. MCX Gold price has given a breakout of its Cup & Handle pattern at 28870 levels on a daily chart and price has almost retested its breakout trend line levels. Moreover, Momentum Indicator RSI has shown bullish range shift on the daily chart. For now, we expect prices should move higher towards 29650 levels in the coming trading sessions.
           
R2
R1
S1
S2
TREND
GOLD
29280
29200
29000
28900
BULLISH
Silver: Silver trading range for the day is 42496-43140.Technically, Silver is getting support at 42698 and below same could see a test of 42496 level, And resistance is now likely to be seen at 43020, a move above could see prices testing 43140. On a daily chart, MCX Silver price has given a breakout of its inverted Head & Shoulder neckline at 41980 levels and price has rested its neckline breakout. In addition, momentum indicator RSI has remained above 60 levels, which indicates possibilities of further upside in the prices. For now, we expect prices to move higher towards 43800 levels in few trading sessions.
           
R2
R1
S1
S2
  TREND
SILVER
42680
42570
42350
42000
  BULLISH

20 February 2017

BULLION OUTLOK FOR 20-21 FEB 2017

SELL GOLD @ 29250 SL 29350 TGT 29150-29100.

SELL SILVER @ 42800 SL 43280 TGT 42600-42500.

Gold: Gold trading range for the day is 29223-29517. Technically market is under long liquidation as market has witnessed drop in open interest by -3.62% to settled at 6738 while prices down -56 rupees, now Gold is getting support at 29291 and below same could see a test of 29223 level, And resistance is now likely to be seen at 29438, a move above could see prices testing 29517. MCX Gold price has given a breakout of its Cup & Handle pattern at 28870 levels on a daily chart and price has almost retested its breakout trend line levels.
           
R2
R1
S1
S2
TREND
GOLD
29380
29300
29150
29000
BEARISH
Silver: Silver trading range for the day is 42689-43123. Technically now Silver is getting support at 42813 and below same could see a test of 42689 level, And resistance is now likely to be seen at 43030, a move above could see prices testing 43123.On a daily chart, MCX Silver price has given a breakout of its inverted Head & Shoulder neckline at 41980 levels and price has rested its neckline breakout.
           
R2
R1
S1
S2
  TREND
SILVER
43200
43000
42800
42500
  BEARISH

17 February 2017

WEEKLY BULLION OUTLOOK FOR 20-23 FEB 2017

SELL GOLD @ 29400 SL 29550 TGT 29400-29280.

 SELL SILVER @ 42800 SL 43200 TGT 42600-42480.

Gold: Gold trading range for the day is 29058-29664. Technically market is under fresh buying as market has witnessed gain in open interest by 5.92% to settled at 6991 while prices up 273 rupees, now Gold is getting support at 29237 and below same could see a test of 29058 level, And resistance is now likely to be seen at 29540, a move above could see prices testing 29664. MCX Gold price has given a breakout of its Cup & Handle pattern at 28870 levels on the 4 hourly chart and price has almost retested its breakout trend line levels. Moreover, Momentum Indicator RSI has shown bullish range shift on the hourly chart. For now, we expect prices should move higher towards 29800 levels in the coming trading sessions.
           
R2
R1
S1
S2
TREND
GOLD
29550
29400
29200
29000
BEARISH
Silver: Silver trading range for the day is 42456-43408. Technically market is under fresh buying as market has witnessed gain in open interest by 0.14% to settled at 11762 while prices up 359 rupees, now Silver is getting support at 42733 and below same could see a test of 42456 level, And resistance is now likely to be seen at 43209, a move above could see prices testing 43408. On the 4 hourly chart, MCX Silver price has given a breakout of its inverted Head & Shoulder neckline at 41980 levels and price has rested its neckline breakout. In addition, momentum indicator MACD has shown positive crossover on the 4 hourly chart, which indicates possibilities of further upside in the prices. For now, we expect prices to move higher towards 43800 levels in few trading sessions.
           
R2
R1
S1
S2
  TREND
SILVER
42680
42800
42350
42000
  BEARISH


16 February 2017

YESTERDAY’S CALL UPDATE:

GOLD HIT all TGT 29280 MADE HIGH OF 29330
silver HIT all TGT 42880 MADE HIGH OF 42929

SELL GOLD @ 29300 SL 29450 TGT 29200-29000.

SELL SILVER @ 42900 SL 43100 TGT 42680-42500.

Gold: Gold trading range for the day is 28822-29262.Technically market is under fresh selling as market has witnessed gain in open interest by 1.62% to settled at 6601 while prices down -20 rupees, now Gold is getting support at 28911 and below same could see a test of 28822 level, And resistance is now likely to be seen at 29131, a move above could see prices testing 29262.
           
R2
R1
S1
S2
TREND
GOLD
29500
29350
29250
29150
BEARISH
Silver: Silver trading range for the day is 41864-43196. Technically market is under short covering as market has witnessed drop in open interest by -1.95% to settled at 11776 while prices up 58 rupees, now Silver is getting support at 42172 and below same could see a test of 41864 level, And resistance is now likely to be seen at 42838, a move above could see prices testing 43196.
           
R2
R1
S1
S2
  TREND
SILVER
43200
43050
42900
42500
  BEARISH