yesterday’s CALL UPDATE:
SELL GOLD 28200 SL
28350 TGT 28080-27900.
SELL SILVER 38400 SL
38650 TGT 38100-37800.
Gold: Gold trading range for the day is 27803-28505. Technically market is
under fresh selling, now Gold is getting support at 27937 and below same could
see a test of 27803 level, And resistance is now likely to be seen at 28288, a
move above could see prices testing 28505. Gold price has given the breakdown
of its “Rising Channel” pattern at 29000 levels on a daily chart. In addition, Gold
prices have been trading below 100 EMA on a daily chart. The momentum indicator
MACD has shown negative crossover on a daily chart. Therefore, we expect the
Gold price to move lower towards 27700 levels.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
GOLD
|
28350
|
28250
|
28150
|
28000
|
BEARISH
|
Silver: Silver
trading range for the day is 37383-38941. Technically now Silver is getting
support at 37718 and below same could see a test of 37383 level, And resistance
is now likely to be seen at 38497, a move above could see prices testing 38941.
MCX Silver price has shown the breakdown of its symmetrical triangle pattern
40500 levels on a daily chart. On a daily chart, Silver price has given
breakdown if its rising trend line at 41750 levels. In addition, Silver prices
have been trading below 100 EMA on a daily chart. The momentum indicator MACD
has shown negative crossover on a daily chart. For now, we expect the price to
move lower towards 37200 levels in the coming trading sessions.
R2
|
R1
|
S1
|
S2
|
TREND
|
||
SILVER
|
38800
|
38500
|
38300
|
38000
|
BEARISH
|
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