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GOLD MARKET OVERVIEW
COMEX Gold is in an upward consolidation phase. Last week COMEX Gold was neither sustained on lower level for the most part of the week but on the last day it bounced back and made a weekly closem above 1800$ an ounce. In the coming week 1750$ will act as a major support in COMEX Gold and 1920$ will act as a major resistance.
GOLD STRATEGY
For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1820 $ an ounce, then above 1850$ it can test the level of 1875/1895$ an ounce and above 1900$ it can further move upward. And in MCX Gold above 284000 it can test the level of 28200/28450/28700 and Below 27300 in MCX it can test the level of 27150/27000/26850. Trade by keeping the strict stop losses.
Major support for COMEX Gold in the coming week is 1750$ and 1680$.
Major resistance for COMEX Gold in the coming week is 1950$ and 1995$
Major support in MCX Gold is 26500 and 25200
Major resistance in MCX Gold is 28700 and 29000
SILVER MARKET OVERVIEW
COMEX Silver is in a consolidation phase. Last week COMEX Silver was trading on lower side for most part of week, but on last day of trading session it bounced back. For the upcoming week 3850 $ and 3700$ are the crucial supports and 4350$ and 4550$ are crucial resistance in COMEX Silver.
In MCX Silver 68000 and 70000 will act as major resistance and 60000 and 58000 will act as major supports.
SILVER STRATEGY
Technically COMEX Silver is consolidating on charts. For the next week traders can use buy on lower level strategy if Silver sustains above the level of 4000$ an ounce, then above 4140$ COMEX Silver can test the level of 4200/4260 an ounce and above 4400$ it can move further upwards and test the level of 4550/4590$ an ounce. And in MCX Silver sustains above 63500 above it can test the level of 65700/66300/67000 and above 67500 it can test the level of 70500. Trade by keeping the proper stop losses.
GOLD MARKET OVERVIEW
COMEX Gold is in an upward consolidation phase. Last week COMEX Gold was neither sustained on lower level for the most part of the week but on the last day it bounced back and made a weekly closem above 1800$ an ounce. In the coming week 1750$ will act as a major support in COMEX Gold and 1920$ will act as a major resistance.
GOLD STRATEGY
For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1820 $ an ounce, then above 1850$ it can test the level of 1875/1895$ an ounce and above 1900$ it can further move upward. And in MCX Gold above 284000 it can test the level of 28200/28450/28700 and Below 27300 in MCX it can test the level of 27150/27000/26850. Trade by keeping the strict stop losses.
Major support for COMEX Gold in the coming week is 1750$ and 1680$.
Major resistance for COMEX Gold in the coming week is 1950$ and 1995$
Major support in MCX Gold is 26500 and 25200
Major resistance in MCX Gold is 28700 and 29000
SILVER MARKET OVERVIEW
COMEX Silver is in a consolidation phase. Last week COMEX Silver was trading on lower side for most part of week, but on last day of trading session it bounced back. For the upcoming week 3850 $ and 3700$ are the crucial supports and 4350$ and 4550$ are crucial resistance in COMEX Silver.
In MCX Silver 68000 and 70000 will act as major resistance and 60000 and 58000 will act as major supports.
SILVER STRATEGY
Technically COMEX Silver is consolidating on charts. For the next week traders can use buy on lower level strategy if Silver sustains above the level of 4000$ an ounce, then above 4140$ COMEX Silver can test the level of 4200/4260 an ounce and above 4400$ it can move further upwards and test the level of 4550/4590$ an ounce. And in MCX Silver sustains above 63500 above it can test the level of 65700/66300/67000 and above 67500 it can test the level of 70500. Trade by keeping the proper stop losses.
