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Tuesday, September 1, 2015

Update on Gold & Silver 01 Sep 2015









Gold




As expected.. Not able to breach its support level of 26500 and bounced back to 26896 again


Now what to expect???


Support at 26680---26550 and Resistance at 27000---27200


It looks positive and could test its resistance level of 27000---27200. Further upside rally seen only close above 27200 mark else it could test its support level of 26680---26550 again

Further panic seen only close below 26550 mark


Trade safely with levels only






Silver




Support at 34800 and Resistance at 35800---36300


Close below 34800 will take to 34300---33800 else it could test its resistance level of 35800---36300 again


Looks choppy and has no clear direction... Till then traders can trade with level only.


More will update soon!!