8 May 2017

BULLION OUTLOOK FOR 08-09 MAY 2017

weekly CALL UPDATE:
GOLD HIT all TGT 28080 MADE low OF 28071!!!
silver HIT all TGT 38100 MADE low OF 38045!!!
Gold: Gold trading range for the day is 27931-28321. Technically market is under fresh selling ,now Gold is getting support at 28002 and below same could see a test of 27931 level, And resistance is now likely to be seen at 28197, a move above could see prices testing 28321. Gold is trading into negative zone and traders can hold short positions until Gold closes above 28371 levels. Traders can initiate short positions on every rise until Gold closes above 28371 levels.
           
R2
R1
S1
S2
TREND
GOLD
28371
28200
28050
27950
Bearish
Silver: Silver trading range for the day is 37485-38809. Technically market is under fresh selling , now Silver is getting support at 37751 and below same could see a test of 37485 level, And resistance is now likely to be seen at 38413, a move above could see prices testing 38809.  Silver is trading into negative zone and traders can go short at every rise or hold short positions until Silver closes above 38506  levels.
           
R2
R1
S1
S2
  TREND
SILVER
38500
38300
38100
37900
  Bearish

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