BULLION OUTLOOK FOR 28-29 FEB 2017

yesterday’s CALL UPDATE:

GOLD ROCKS  HIT all TGT 29720!!

silver ROCKS HIT all TGT 43640 !!

Gold: Gold (29710): Gold Future is trading into positive zone and traders can hold long positions until Gold Future closes below 29432 levels. Traders can initiate fresh long positions on every dip until Gold Future closes below 29432 levels.

	R2	R1	S1		S2	TREND
GOLD	29650	29500	29200		29000	BULLISH

Silver: Silver (43424):  Analysis would remain same. Silver is still in positive zone and traders can buy at dips or hold long positions until Silver closes below 43034 levels. Traders can go short once Silver Future closes below 43034 levels.

	R2	R1	S1		S2	TREND
SILVER	43800	43500	43150		43000	BULLISH

CRUDEOIL: Crude (3623): Crude is trading into negative zone. Traders should initiate short positions on every rise. For now traders can hold short position until Crude future closes above 3668 levels.

	R2	R1	S1		S2	TREND
CRUDEOIL	3650	3630	3600		3550	SIDEWAYS

BULLION OUTLOOK FOR 27-28 FEB 2017

BUY GOLD @ 29550 SL 29400 TGT 29720-29850.

BUY SILVER @ 43150 SL 42850 TGT 43450-43640.

Gold: Gold trading range for the day is 29456-29732. Technically market is under short covering as market has witnessed drop in open interest by -0.68% to settled at 6840 while prices up 172 rupees, now Gold is getting support at 29539 and below same could see a test of 29456 level, And resistance is now likely to be seen at 29677, a move above could see prices testing 29732.

	R2	R1	S1		S2	TREND
GOLD	29820	29650	29500		29350	BULLISH

Silver: Silver trading range for the day is 42949-43627. Technically now Silver is getting support at 43151 and below same could see a test of 42949 level, And resistance is now likely to be seen at 43490, a move above could see prices testing 43627

        On the 4 hourly chart, MCX Silver price has faced the strong resistance of its rising trend line at 43400 levels. In addition, momentum indicator RSI has faced the resistance of 75 levels, which indicates possibilities of downside in the prices. For now, we expect prices to move lower towards 42300 levels in few trading sessions.

	R2	R1	S1		S2	TREND
SILVER	43650	43450	43200		43000	BULLISH

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

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

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