Gold
Not able to breach its resistance level of $1249 and slipped to $1225. On MCX division too... Gold crashed and made a low of 29106 mark
Now what to expect???
Support at $1225 and Resistance at $1245---$1249
Decisive break and sustain below $1225 will take to $1205---$1190 and then to $1173 in days to come else it could test its resistance level of $1236---$1245---$1249 again
We will expect range bound trading in Gold with in and out strategy. So traders can trade safely with levels only and wait for confirmation
Trading range; $1173---$1263
On MCX division.. Clearly indicates that Gold has hurdle at 29900 and we will do buying in Gold only above 29900 mark. It unable to breach its resistance level of 29900 and crashed vertically to 29106
Below 29050... we will see further downside panic till 28900---28750 and then to 28600 mark in days to come
Here 28000 act as major support and fresh selling will initiate only weekly close below that mark as a positional call. Till then traders can trade in a range of 28000---29900 for this week.
Anything seems will update via App.
Silver
Support at $14.60 and Resistance at $15.30
Two consecutive closes below $14.60 will see free fall in Silver till $13.80---$13.30 in days to come
Else it could test its resistance level of $15.00---$15.30 again
On MCX division... Told to sell below 36500 and booked part profit around 36100---36050. Below 36050 it could test 35700 mark.
Three consecutive closes + weekly close below 35700 will see free fall in Silver in days to come
Intraday hurdle at 36600---37000
Trade with levels only.
More will be update soon only on our Android App
