9 June 2017

WEEKLY BULLION OUTLOOK FOR 12-16 JUNE 2017

weekly CALL UPDATE:
GOLD HIT all TGT 29360 MADE high OF 29585!!!
silver HIT all TGT 40660 MADE high OF 40842!!!

SELL SILVER @ 40000 SL 40500 TGT 39500-39300.

SELL GOLD @ 29100 SL 29350 TGT 28900-28800.

Gold: Gold has entered into negative zone and traders can hold short positions until Gold  closes above 29514 levels. Traders can initiate short positions on every rise until Gold Future closes above 29514 levels.  Gold price has completed the revisit of channel breakout point on the daily chart . In addition,   COMEX Gold price has sustained above 21 EMA on the daily frame. The momentum indicator MACD on the daily chart is in positive crossover whereas daily RSI moved above 50. Therefore, we expect the Gold price to move up towards 29550 levels
           
R2
R1
S1
S2
TREND
GOLD
29200
29100
29000
28900
Bearish
Silver: Silver has entered into negative zone and traders can go short at every rise or hold short positions until Silver closes above 40756  levels.  Silver price has moved higher after taking support at the horizontal line on a daily chart. Moreover, the price has sustained above 21 EMA on the daily frame after several trading sessions. The momentum indicator MACD on the daily chart is in positive crossover whereas daily RSI moved above 50. Therefore, we expect the Silver price to move up towards 41300 levels.
           
R2
R1
S1
S2
  TREND
SILVER
40200
40000
39800
39500
  Bearish

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