COMEX Gold is in a technically consolidating on charts for short term. During last week COMEX Gold was trading on higher side and was able to made a close above 1600$ an ounce. In the coming week 1500$ will act as a major support in COMEX Gold and 1740$ will act as a major resistance.
For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1620 $ an ounce, then above 1640 $ it can test the level of 1660$/1680$/1705$ $ an ounce. And in MCX Gold above 28000 it can test the level of 28150/28300. Trade by keeping the strict stop losses.
COMEX Silver is technically in upward phase. Last week COMEX Silver was neither sustained at
higher level nor at lower level. For the upcoming week 2600 $ and 2400$ are the crucial supports
and 3200$ and 3400$ are crucial resistance in COMEX Silver. In MCX Silver 56000 and 58000 will act as major resistance and 48000 and 45000 will act as major supports.
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 2940$ an ounce, then above 2975$ COMEX Silver can test the level of 3025/3080/3140$ an ounce. And in MCX Silver sustains above 54000 then it can test the level of 54500/55200/56000, Trade by keeping the proper stop losses.
