We have worst day for Gold as our selling stop loss
triggered while Silver took the support and gives us a relief rally again as we
are holding long as a positional call.
Need not to worry at all... We will recover this loss soon
Gold
Support at $1260 and Resistance at $1296
Looks positive and could test $1296. Once break and close above $1296 will take to $1325---$1339 in days to come
Fresh selling can initiate only close below $1260
On MCX division, Gold has support at 29500 and resistance at 30000---30200.
Looks positive and could test its resistance level of 30000---30200. Three consecutive closes + weekly close above 30200 will see sharp upside move in it.
Trade with levels only
Silver
Silver is forming triangle pattern on daily chart while cup and handle patter too emerging on it. If it proven great then we will see major upside rally in days to come
Have a look on it!!
Support at 36600---35700 and Resistance at 38100
Looks positive and could test its resistance level of 38100 mark. Three consecutive closes + weekly close above 38100 will see sharp upside rally in it
Above 37400.... Target intact 40000---41000+ mark in coming weeks
Any sharp downside panic will be buying opportunity in it until and unless breach its support level of 35700.
We never revise our Stop Loss and that's what we have done with our yesterday Gold call. We are here to cover your loss and we are committed for it.
More will be update soon during market hours!!
