LET THE MARKET TELL WHO WE ARE

Gold mcx moving in a descending channel and now tasting support line of this channel. At the same time bullish crab harmonic structure seen which completes at 29435 and gold may jump after hitting low around 29440-430 zones. Bullish divergence on 14 period RSI indicator also supporting our reversal expectations. Supports: 29430-29100 Resistances: 29660-29770-29920 Recommendation: buying gold around 29455-435 zones for targeting 29630-770-29900 with stop loss below 29400 on hourly closing basis might be appropriate. 

Gold: closed at 29652,  trading range  29500-29900; trend is sideways with negative bias. Yesterday sharp decline below 29860 as we were expecting. Today key support will remain at 29500 recovery expected from 29570-29500 zones. Closing needed below 29500 to confirm further down side. Resistance seen at 29780-800 zones stability will trigger intraday rally till 29900 and more upside. Technical outlook will remain bearish for short term. Silver: closed at 51756, trading range 50800-52600, trend is down. Immediate support seen at 51650 failures will signal intraday decline till 51300-51200 zones. Stability below 51200 will take it to 50800 zones for the day, overall trend is down and this swing is open for 50000. Immediate resistance seen at 52150 stability above this level would signal intraday recovery and it will try to hit 52400-52500 zones. 52600 will remain important to watch stability may trigger recovery otherwise down trend will remain continue. 

Gold currently trading at 29970, as we can see here gold respecting support of ascending trend line that is around 29860 stability below 29860 may trigger intraday weakness and metal may try to head towards 29750-29500 in short term. 14 periods RSI below 50 and MACD below 0 lines are suggesting downward momentum. Major resistance for this view will remain at 30200 stability above 30200 may neglect recent bearish developments and will take it to 30400-30700 in short term. Supports: 29860-29700-29500 Resistance: 30040-30200-30400

Gold: closed at 29964, trading range 29700-30200, trend sideways. Today trend decider level is 29960 stability below this level will be supportive for sellers and it will try to hit 29870-29770 for the day. Key support will remain at 29700 failure would signal decline till 29450-29100 in short term. Stability above 29960 will be supportive for bulls and gold will try to hit 30100-30130 key resistance will remain at 30200 stability will support bulls. Silver: closed at 52963, trading range will remain between 51200-53900, trend is down.  Today 53200 is important to watch, stability above 53200 will take it to 53560-53800 key resistance will remain at 53900 stability would offer 54300-54400 as target zones. Immediate support at 52700 stability below 52700 will support intraday bears and silver will try to head 52450-52200 for the day. Stability below 52200 would signal short term decline for 51700-51200 zones. 

Gold: closed at 30080, trading range 29600-30340, very short term trend sideways, general trend is up. Today 29990 will be trend decider failure would signal intraday decline till 29900-29860 today 29700 will be key support and failure and close below 29700 may trigger short term bearishness in gold and gold may try to hit 29100 zones. Immediate rest seen at 30180 stability would signal intraday rise till 30260-30320. Key resistance will be 30330 breach of this level will trigger continuation in uptrend and 30700-30800 will be primary target in short term. Silver: closed at 53675, trading range 52200-54500. Short term trend down.  Immediate resistance seen at 53900 stability above this will take it to 54300-54400 zones but 54500 will remain key resistance for very short term and stability above 54500 may neglect our bearish outlook for very short term. Today 53200 will be important till holding above this level metal will remain bullish and will try to hit resistance zones. ...

Gold : closed at 28843 29843, day trading range will remain between 29500-30130, intraday trend sideways, short term trend is up.  Immediate support seen at 29800 stability below 29800 will take it to 29730-690. Key support will remain at 29500 for short term.  29990 will remain important resistance stability above 29990 will take it to 30100-30120 key resistance for the day will remain at 30275 stability above this level will trigger further upside. Silver: closed at 52898, day trading range will remain between 52300-53960, short term trend is down. Intraday key support seen at 52800 stability below this level will take it to 52500-52200 zones, 52000-52200 zones will remain key support and stability below these levels will trigger fall till 51800-51300 in very short term.  Today trend decider level will be 53400 stability above this level will take it to 53700-53900-54200 for the day. key resistance will remain 54500 closing needed above 54500 to confirm recovery,...

Gold: closed at 30289, day trading range between 30090-30400, trend sideways.  Today 30200 will be trend decider level for gold , stability below 30200 will take it to 30160-30090-30000 key support will remain at 29950 failure would signal short term correction in gold that may take it to 29700 and more down side. Stability above 30200 will support intraday bulls and it will try to hit 30340-400 zones in intraday key resistance will remain 30500. Silver: closed at 54570, day trading range will remain between 53300-55500, trend is down. Yesterday silver made low of 53813 and nicely jumped as we were expecting 53800-53700 zones as strong support zones. today trend decider level will be 54450 stability above this will take it to 54650-54900 zones. 55000 will be key resistance for intraday  and 55300 will be key resistance on closing basis. Below 54450 bears will remain aggressive and silver will try to head towards 54270-53850. Intraday key support will remain at 53800 sta...

Gold: closed at 30214, day trading range 29950-30370, trend sideways with bearish bias. Today 30270 will remain intraday trend decider above that if manage to hold then gold will try to head towards 30340-30440 zones. Above 30440 if manage to hold then it will open doors for 30600-31000 in short term. Stability below 30270 will be supportive for intraday bears and likely to taste 30120-30000. It is likely to take minor support around 29970-980 zones if manage to break that support then intraday decline till 29880-850 zones can’t be ruled out. Silver: closed at 54465, day trading range 53600-55300, trend down. Yesterday silver was attacking key resistance of 55300 but was not able to break that level and nice decline seen from resistance area.  Today trend decider level will be 54650 stability above this level may trigger intraday recovery and silver will try to head towards 55000-55200 zones, stability above 55250-300 will take it to 55500-55900 for the day. Support seen at ...

Gold: closed at 30311, day trading range 30050-30580, trend is up.  Yesterday gold closed above its key resistance of 30200 supporting bullish outlook that may take it to 30600-30700 during this move. Immediate support seen at 30240 failures may take it to 30200-190 zones but 30190 will be trend decider stability below 30190 will supply more weakness and it may try to taste 30100-29950 during the day. Above 30190 trend will remain up and gold is likely to hit 30440-550 zones. During the day. Silver: closed at 54923, day trading range 54200-55500, trend is up. Yesterday silver made low 54253 as day low but was not able to hold below key support of 54300 as I have written in my previous post. Immediate support seen at 54700 stability below 54700 may trigger more weakness and it may try to taste 54450 zones for the day but 54300 will remain important in intraday and 53700 on daily chart.  Stability above 54900 will be supportive for bulls and silver will try to head toward...

Gold: closed at 30154 on Saturday, day trading range is expected to remain between 29800-30300, trend will remain sideways. Gold having strong support at 30050 stability below 30050 would offer 29900-850 as target areas for short sellers. 29700 is expected to remain strong support for short term daily close below this 29700 will offer 29550-29100 as target areas in gold for very short term. Key resistance will remain at 30200 minimum 2 consecutive close needed above this level to for rally till 30700-31200 zones. Silver: closed at 54553, day trading is expected to remain between 53100-55100, trend is sideways.  Having strong resistance at 55000-55100 zones stability above these levels may trigger intraday bullishness and silver may try  to head 55400-55700 and more upside. Key support will remain at 54300 stability below this level will trigger intraday bearishness and silver will try to head 53800-53500 zones. key support will remain at 53700 on daily closing basis....

Silver: as we can see here silver on daily chart respecting resistance of descending trend line and 50 periods simple moving average that is around 55300 silver must close above 55300 to confirm further upside. Yesterday’s sharp selling from resistance of 55300 is also supporting 55300-55400 zones as crucial resistance zones.  Down side silver respecting ascending trend line support around 53800 daily close below 53800-53700 zones would trigger short term bearishness and silver may try to head towards 51800-49000 in short term. At the same time stochastic indicator turning negative that is also supporting our outlook. Resistances: 55400-56350-57500 Supports: 54300-53700-51700 Recommendation: selling silver around 54900-55000 for targeting 53900-51800-49000 with stop loss of 55400 might be appropriate on daily closing basis. 

Gold: closed at 30113, day trading will remain between 29860-30300, trend is sideways. Yesterday nice decline seen in gold after high of 30236. Today 30236 will remain big resistance to cross for gold. Trend decider level is 30110 stability above 30110 will be supportive for gold and it will try to head towards 30170-30230. Stability below 30110 will supply intraday weakness and it will try to head towards 29980. Key support will remain at 29900 intraday stability below 29900 will trigger very short term bearishness in gold. Silver: closed at 54441 day trading range is expected to remain between 53100-55300, trend is sideways. Yesterday also silver was not able to hold above its key resistance of 55300 and nicely dropped. Today 53900 will remain important to watch stability below this level may trigger more weakness in intraday and silver may head towards 53500-53200 but 53700 will remain key support closing basis and closing below this level will trigger short term bearishness ...

Gold: closed at 29968, day trading range will remain 29500-30120; trend is expected to remain sideways. Intraday trend sideways, short term trend is up. Immediate resistance at 30050 stability would above 30050 will would signal intraday upside till 30150-30200 close above 30200 would signal 30400-30700 in very short term.  Immediate support seen at 29820 stability needed below 29820-800 zones to confirm intraday decline till 29700 and 29600 key support will remain at 29550-500 zones.  Silver: closed at 55076, day trading range 54000-55700, short term trend is up with key support of 54300 on 2 consecutive closing basis. Today 55300 will remain key resistance to watch stability above 55300 would offer intraday rally till 55500-55700 zones. Stability above 55800 zones is less likely but rally till 56300-56700 can’t be ruled out if silver manage to hold 55800 levels during the day. Immediate support at 54730-700 zones failure may trigger intraday decline that may take it t...

Gold: closed at 29765 day trading range is expected to remain between 29500-29900, trend is sideways. 29700 zones will act as trend decider above 29700 gold will try to head towards 29780-860 zones for the day. Stability above 29900 needed to confirm further upside for short term otherwise reversal is likely from resistance area. Immediate support seen at 29630 stability below 29630 would trigger intraday weakness and it will try to head towards 29580-530 zones.  29500 will remain key support failure below 29500 may take it to 29440-400 zones.  Silver: closed at 54694, day trading range is expected to remain between 53700-55300, trend is sideways.  54300 is important to watch in silver stability above 54300 will be supportive for silver and 54770-950 will remain major resistance for the day above 54950  it will try to move towards 55200-300 zones, but 55300 will remain key resistance for the day, and further upside only possible after breakout above 55300. Bel...

Gold: closed at 29536 day trading range between 29300-29800, trend will remain sideways for short term with trading range between 29100-30300. Immediate resistance seen at 29650 stability needed above 29650 to confirm recovery of Thursdays fall and it will try to taste 29750-800 zones. Immediate support seen at 29500 failures may trigger intraday weakness and gold may taste 29460-29420 for the day key support will remain at 29300-280 zones. Stability above 29300 will be supportive for bulls and gold will remain open to taste 29800-30200 in near term. Failure below 29300 may neglect our bullish expectations. Silver: closed at 54201, trading range will remain between 53800-55800, short term trend is sideways. Immediate resistance at 54380 penetration of resistance will supply power to bulls and it will try to taste 54700-750 zones. Stability above 54800 would supply more power to intraday bulls and retest of 55100-55800 zones possible after a successive breakout above 54800. Immed...

Gold: closed at 30080, day trading range is expected to remain between 29400-30200; trend is sideways with bullish bias. Immediate support at 30050 failure may take it to 29900-880 failure below these zones will take it to 29700-29550 but 29400 will remain key support for short term. Stability above 30050 will support bulls and it will try to move towards 30150 to 30250 for the day. Silver: closed at 55872 day trading range will remain between 53000-55200, trend will remain sideways. Immediate support seen at 54450 failures may take it to 54200-54000 for the day. 53900 looking good support failure may take it to 53700-53500 for the day  54600 looking good immediate support stability above 54600 will provide some power to move towards 54850-55000-55150 but 55200 will remain key resistance for the day on closing basis, close above 55200 will trigger a short term bullish attempt for 1500-2000 points.

Gold: closed at 29432, day trading range will remain between 29180-29600; trend is expected to remain sideways with high volatility. today Indian rupees expected to remain strong against us dollar that may help intraday bears in bullion. Yesterday gold broken out above 29500 but was not able to hold above resistance. Immediate support seen at 29408 failures will take it to 29360-29300 minor support at 29300 failures below 29300 may take it to 29200-180 for the day. Resistance seen at 29520 stability needed above 29525 to confirm intraday rally that will take it to 29650-700 zones for the day. Silver: closed at 54132 day trading range will remain between 53300-55200, trend is sideways.  Silver having strong hurdle 54550 stability needed above 54550 to move further upside but 55200 will remain key resistance for short term and till silver not manage to hold that level we can see a larger degree correction in silver. Intraday support seen at 53800 failure wi...