MCX Gold Tips
Gold suggest that prices have reversed after taking resistance at 30200 levels. MACD is in a sell mode. We expect prices to correct up to levels of 29000. Witnessing recovering move may not be succeed until prices make concrete trades above 29700 region and such abortive attempt could find support at 29490/29400 or even lower towards 29200. Conversely, astonishing move above 29700 region could lift up prices towards 29870/30550 or even higher towards 30650.
we expect gold prices to find Support at 29,430 – 29,400 levels and further below strong support is seen at 29,150-29,100 levels.
MCX Silver Tips
we expect Silver prices to find strong support in the range of 53,900-53,700 levels. Multiple closing below 53,700 levels would indicate that a short term top has been posted. Dips if unable to succeed below 53300 expect reversal of the present selling momentum and prices could edge higher towards 54600 or even more. A direct fall below 53100 will extend liquidation pressure towards 51000 later.
Silver suggest that prices have reversed after taking resistance at 56300 levels. RSI is in a sell mode. We expect prices to correct up to levels of 53000.
