PRECIOUS METAL’s TECHNICAL TREND AND OUTLOOK
GOLD - Key technical indicators and forecasts
Gold prices remained steady last week ending up by
0.4% at $1294 at Comex and 30366 at MCX.
Technically, prices formed a doji candlestick on
weekly charts indicating that some consolidation
may take place this week. Prices are having key
resistance at $1310 this week and support at $1265.
Prices need to sustain above $1310 for entering into
new rally towards $1350-$1370. At MCX key
resistance is at 30500 for this week and break above
this level may lead to further rally towards 30800-
31000. Overall trend is looking bullish and prices
need to break above previous week high for
sustaining the rally this week.
On indicators:
14-week RSI is at 66 and slope is down indicating
some downside correction may take place. MACD
indicator is trading in positive territory and
suggesting uptrend. Indicators are indicating
sideways to up trend.
Outlook: The overall trend looks up on weekly
charts for this week with key support at $1265 at
Comex and 29600 at MCX. Buy on dips remain a
broad strategy for this week.
Silver- Key technical indicators and forecasts
Silver futures ended lower last week after
witnessing sharp gains since past four weeks.
Comex silver ended down by 1.4% at $17.52
while MCX silver ended down at 41731.
Technically, prices may show some consolidation
before moving up, as overall trend is expected to
be bullish till they hold above the support at
40200. Key resistance is at 42500 this week at
MCX and $18.00 at Comex. Support is at 40200
at MCX and $17 at Comex. At Comex prices
should sustain above $18 for further rally
towards $18.50. While at MCX prices should
sustain above 42500 for taking it higher towards
43000-43500.
On indicators: 14-week RSI slope is down at 63
suggesting consolidation while MACD indicator is
in positive territory suggesting upside move.
Outlook:
For the week ahead prices may show range
bound movement in the range of 40800-41800.
Break above 42000 is important for further rally.
WHAT EVER YOU EARN FROM MY CALLS PLEASE GIVE 10% PROFIT'S FOOD TO COWS AND DOGS HELP THM GOD WILL HELP YOU-!!!
GOLD - Key technical indicators and forecasts
Gold prices remained steady last week ending up by
0.4% at $1294 at Comex and 30366 at MCX.
Technically, prices formed a doji candlestick on
weekly charts indicating that some consolidation
may take place this week. Prices are having key
resistance at $1310 this week and support at $1265.
Prices need to sustain above $1310 for entering into
new rally towards $1350-$1370. At MCX key
resistance is at 30500 for this week and break above
this level may lead to further rally towards 30800-
31000. Overall trend is looking bullish and prices
need to break above previous week high for
sustaining the rally this week.
On indicators:
14-week RSI is at 66 and slope is down indicating
some downside correction may take place. MACD
indicator is trading in positive territory and
suggesting uptrend. Indicators are indicating
sideways to up trend.
Outlook: The overall trend looks up on weekly
charts for this week with key support at $1265 at
Comex and 29600 at MCX. Buy on dips remain a
broad strategy for this week.
Silver- Key technical indicators and forecasts
Silver futures ended lower last week after
witnessing sharp gains since past four weeks.
Comex silver ended down by 1.4% at $17.52
while MCX silver ended down at 41731.
Technically, prices may show some consolidation
before moving up, as overall trend is expected to
be bullish till they hold above the support at
40200. Key resistance is at 42500 this week at
MCX and $18.00 at Comex. Support is at 40200
at MCX and $17 at Comex. At Comex prices
should sustain above $18 for further rally
towards $18.50. While at MCX prices should
sustain above 42500 for taking it higher towards
43000-43500.
On indicators: 14-week RSI slope is down at 63
suggesting consolidation while MACD indicator is
in positive territory suggesting upside move.
Outlook:
For the week ahead prices may show range
bound movement in the range of 40800-41800.
Break above 42000 is important for further rally.
WHAT EVER YOU EARN FROM MY CALLS PLEASE GIVE 10% PROFIT'S FOOD TO COWS AND DOGS HELP THM GOD WILL HELP YOU-!!!
ReplyDeleteThe benchmark indices ended lower on Wednesday as tensions over North Korea’s latest nuclear test showed few signs of abating and continued to spook global investors.capitalstars