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Saturday, September 24, 2011

Bullion Technical and fundamental Weekly Report 26th Sept To 1th Oct 2011

MARKET OVERVIEW
COMEX Gold is in a technically weak on charts for short term. Last week COMEX Gold was not sustaining at higher level but on the last day it falls sharply. In the coming week 1500$ will act as a major support in COMEX Gold and 1920$ will act as a major resistance.
STRATEGY
For the next week traders can use sell on higher level strategy if COMEX Gold sustains below 1700 $ an ounce, then below 1600 $ it can test the level of 1560$/1540 $ an ounce. And in MCX Gold below 26000 it can test the level of 25550/25050/24600. Trade by keeping the strict stop losses.
Major support for COMEX Gold in the coming week is 1530$ and 1470$.
Major resistance for COMEX Gold in the coming week is 1840$ and 1880$
Major support in MCX Gold is 26500 and 25200
Major resistance in MCX Gold is 28300 and 28800
MARKET OVERVIEW
COMEX Silver is in a slightly downward in trend. Last week COMEX Silver was down for the whole week. For the upcoming week 2900 $ and 2500$ are the crucial supports and 4050$ and 4550$ are crucial resistance in COMEX Silver.
In MCX Silver 62000 and 65000 will act as major resistance and 49000 and 45000 will act as major supports.
STRATEGY
COMEX Silver is in a slightly downward in trend. Last week COMEX Silver was down for the whole week. For the upcoming week 2900 $ and 2500$ are the crucial supports and 4050$ and 4550$ are crucial resistance in COMEX Silver. In MCX Silver 62000 and 65000 will act as major resistance and 49000 and 45000 will act as major supports.
 
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