Gold Weekly
Hope u booked profit below the weekly support 27200 till 27053. Unable to sustain above the weekly resistance of 27650 and slipped below weekly support and made a low of 27053, our suggested second support at 27050.
What Next???
Last week Gold closed at 27082 below 21 but above 55 Daily EMA which is at 27153 & 26986 respectively which represent uncertainty. Last week gold made low of 27053 and had a crucial range of 27050-27000. In upcoming week Gold has immediate resistance at 27400 & immediate support at 27050.If Gold sustains above level of 27400 then it could bounce till 27500-27700.Two close above 27900 will lead sharp fire towards 28200-28500 or else it test the level of 27000. Close below 27000 will free fall till 26850-26700-26500 and more. Sustainability of levels is very important**.
So have patience & trade on proper levels with SL.
Weekly Pivot
COMMODITY R3 | R2 | R1 | P | S1 | S2 | S3
GOLD 28125 | 27905 | 27495 | 27270 | 26860 | 26640 | 26225
OUTLOOK
Trend: – Consolidate | Strategy: – Neutral.
Silver Weekly
Dual Node Trade…!!!
Week opening at highs and then spilled towards support.
What next???
Last week silver closed at 38928 above 21 & 55 Daily EMA which is at 38706 & 37617 respectively. On charts look uncertain. Price divergences with daily RSI can be observed hence suggest being cautious. In upcoming week silver has immediate support at 38800 and Resistance at 39800.Sustain below 38800 it could expected fall towards 38300-38200-37550-37000. On the other hand if it manages to sustain above Resistance of 39800 could bounce till 40600. Major Resistance faced at 40600 two daily close above that will may fire 41000-41700. Sustainability of levels is crucial**.
Have patience & trade on proper levels with SL.
WEEKLY PIVOT
COMMODITY R3 | R2 | R1 | P | S1 | S2 | S3
Silver 41880| 41230 | 40080| 39425| 38270 | 37620 | 36475
OUTLOOK
Trend: – Consolidate | Strategy: – Neutral.
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Mcx Commodity Tips Blog By Money CapitalHeight 