16 May 2017

BULLION TECHNICAL OUTLOOK FOR 16-17 MAY 2017

yesterda’s CALL UPDATE:
GOLD HIT TGT 28140 MADE low OF 28142!!!
silver HIT all TGT 38560 MADE low OF 38880!!!
Gold: Gold trading range for the day is 27879-28199. Technically market is getting support at 27936 and below same could see a test of 27879 level, And resistance is now likely to be seen at 28096, a move above could see prices testing 28199. Gold is trading into negative zone and traders can hold short positions until Gold closes above 28226 levels. Traders can initiate short positions on every rise until Gold Future closes above 28226 levels.

           
R2
R1
S1
S2
TREND
GOLD
28180
28100
28050
27950
Bullish
Silver: Silver trading range for the day is 37886-39192. Technically market is getting support at 38194 and below same could see a test of 37886 level, And resistance is now likely to be seen at 38847, a move above could see prices testing 39192. 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
38850
38750
38500
38300
  Bullish

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