Gold
Day before yesterday we clearly indicated that Gold looks weak on going positive Dollar Index and negative bias trading.
It crashed vertically and made a low of 28715. We clearly indicated that Gold looks weak below 29060 and could test its support level of 28980---28920---28850 and below 28850 we will see more downside panic in it. It crashed and made a low of 28715 and finally settled at 28790
Now what to expect???
Gold has support at 28700---28550 and resistance at 28900---29050
Break and sustain below 28700 will take to 28620---28550. Weekly close below 28500 will see free fall in Gold else it could test its resistance level of 28900---29050 again
Further upside rally will see only close above 29050 mark
Trade with levels only... Anything seems will update via App
Silver
Not able to breach its support level of 37900 and bounced back to 38600
Now what to expect???
Support at 37900 and Resistance at 38600
Break and sustain below 37900 will take to 37400---36900 mark. More and more downside panic will see only close below 36900 mark else it could test its resistance level of 38600 again
Three consecutive closes above 38600 will see sharp upside rally in Silver but trade with level only
Overall trend looks positive and any sharp panic will be buying opportunity in Silver but trade with levels only
Any reversal seems will update via App
More will update soon....
