In MCX Gold, present correction rally less likely to continue unless 27160 region  gives way, this would call for a swing lower towards 26900/680  with the participation of volume . If prices win over 27160 would elevate the possibility of a turn higher against 27260/27350 initially then to 27570.

After taking support just above the lower end of daily Bollinger  band i.e. 49750, Silver prices pulled back in the early session. Day’s bias  expect to resume the recovery moves towards 51100/51500 or even more. An unexpected sell off below 49700 would rekindle bearishness towards 47000 lat

The day's bias should stay largely range bound with mild positive bias. 27700-27560 would be the range we expect initially. Unexpected rise above 27700 could register fresh upside moves towards 27750/27930, mean while on downside it would be 27500.

The uptrend seen so far during the day may not continue unless consistently trade above 53500, else we would see a choppy session  with in the range of 53500-53750 levels.

We expect prices to resume the prevailing weakness towards  27500/27370 or even lower by holding the upside cap of 27780  region. But successful trades above 27800 region would hamper our bearish expectation and such moves could stretch to 27880/960  then top 28050. 

In Silver MCX early trades likely to cap 53500. If subsequent falls succeeds below  52500 expect steep falls towards 51900/51000 or even more. On the mean time, rallies above 54000 could attract short covering  rallies till 55750/56200 that we less expected the day

Though Gold managed to recover finally and closed in green but the broad negative bias is still intact. As far as MCX gold manages to hold 27700 level, a recovery move till 27850-28200 could be seen in today's trading session. A straight fall below 27350 can drag prices below 27000 level.

MCX Silver is also facing the same bearish trend. On Monday prices could not manage to close above 53000 level. Today, key support for Silver is seems to be 52450 which can cease the liquidation pressure in this precious metal. And below this level Silver may test 51900-51650 level soon. 54000 would be required to regain the bullish momentum in silver.

Gold Prices have been trading in a consolidation phase with slight  positive bias towards 29100/29170, but we are not expecting major  rallies until it cross above the 29250 region and such initiative lift  prices towards 29330/29400 or even higher. Conversely  unexpected fall below 28800-770 region may drag down the prices  firstly to 28670/28450. 

In Silver, a swing higher is anticipated earlier in the evening. However, inability to clear 57600 on such attempts would invite a major bear plunge targeting 55000 or even 52000 in an extreme scenario. Alternatively, a push past 57600 could put bearish doubts on hold, and a direct rise past 58200-400 would straight away call for 62000

So far prices have been trading in a range with less indicative. While  on later sessions, we favoring early trades to be positive pointing  towards 28800, but unlikely to continue that buying momentum unless above 28830 region. Above 28830 we could expect  28980/29100. Conversely a vertical drop though 28550 region
would be an indication for weakness towards 28450/300 then to  28100. 

A flat trading range is expected today. Early attempts to a rise would be capped near 57600-900 regions but may not call for steep fall  unless close below 55300, where the 51 day moving average  support is placed. 

 

MCX Gold Updates
Prices looks exhausted after recent runs and have been trading in a  range of (28840 – 28710) since morning to till this time. So when we look forward prices need to hold the region of 28630 to keep the bullish momentum towards 28870/29100 region or even higher. Else, break below the region of 28630 may see a corrective
dip possibly till 28550/28300.

MCX Silver Updates 

Prices have been challenging the crucial resistance of 58300. To  hold initially for a corrective dip lower, but break of the same is favored later to the session and possibly took for an upside target  of 59300/61400. Conversely a direct drop below 56500 could attract long liquidation pressure till 54600/51500 later.
 

COMEX Silver is in a slightly downward in trend.  Last week COMEX Silver was trading in a range for the whole week. For the upcoming week 2600 and 2400 are the crucial supports and 3800 and 4100 are crucial resistance in COMEX Silver. In
MCX Silver, 62000 and 65000 will act as major resistance and 45000 and 42000 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 3570$ an ounce, then above 3600$ COMEX Silver can test the level of 3660/3720 an ounce. And in MCX Silver sustains above 57200 then it can test the level of 58500/59800, Trade by keeping the
proper stop losses.

 

Possibilities for further gains are still in the picture. But before this  price action, we expect prices to take a dip lower towards 27470  region to involve fresh buying towards 27780/28000 then to  28130.Alternatively, successful trades below 27400 could dilute our  buying expectations and would drag down price towards 27240/27100 followed by major crucial region of 26900. Anyhow for the day we favor choppy trading with positive bias.

A sharp decline was seen in Silver earlier which now has been recovered after traders took a buying interest at lower levels. On MCX, December contract of silver commodity is trading above 53150. Now an upside momentum could be seen above 51200 which might last till 53500-53700 for the day. But inability to sustain above 53000 can exert a selling pressure in this precious metal and Silver can slip below 52700 level.

So traders can go for buy above 53200 for the targets of 53350-53500-53700.
 

International  Gold is in a technically consolidating mode on the charts for short term. Last week  Gold was trading in a range from 1650 to 1695.

Now for the next week the major support for Comex Gold is seen near 1600 while resistance is residing near 1840. 

Traders should go for strategy of buy on lower levels for Comex gold this week. If it manages to trade consistently above 1655 then prices may go up to 1695. Above 1695, we can expect the upside levels like 1710-1735 in near term.

MCX has been on decline in Gold and Silver. A slight decline of near 0.50% is seen in Gold commodity. Silver is trading more than 1.5% behind its previous close. International gold and silver are also trading in negative zone. For Intra-day the the momentum is slightly negatively biased.
Commodity Gold Silver trading Tips-

Buy Gold near 26650-26750 TG- 26850-26900-27100 also keep a strict Stoploss below 26450

Buy MCX Silver above 53560 TG- 53900-54200.

MCX Gold- The daily prices have been hovering in the range of 25500-27000 from last two weeks. Price have bounced back after testing 25500 levels. Strong resistance is

seen at 26800-27000 levels. We expect prices to see a minor rally to test 26800

levels and then probably a fresh round of sell off to test 26200 levels. We

recommend sell on rise to 26750-26800 levels with a stop loss placed above 27100

levels for targets of 26400 / 26200 levels.

MCX Silver- Prices have been witnessing sideways consolidation moves in the range of 48000-

55000 levels. The daily RSI is still looking weak with lack of strength. Going

forward, we expect prices to see a fresh round of sell off from the resistances for

targets of 50000. We recommend traders to sell of rise to 53500-54200 levels with

a stoploss placed above 55500 levels for targets of 50000 levels. 

COMEX Gold is in a technically weak on charts for short term. Last week COMEX Gold was trading in a range from $1600 to $1660. In the coming week $1530 will act as a major support in COMEX Gold and $1840 will act as a major resistance.

For the next week traders can use buy on lower level strategy if COMEX Gold sustains above $1655 an ounce, then above $1670  it can test the level of $1695/$1715 an ounce. 

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

Though Silver has to face a breakout today but for the broad term prospective, it is looking bullish. Till the prices remain above 52500, silver is in buying mode and one can go for Buy on dips for the targets of 53500-54000. While below 52000 silver may take a dip towards 51200-50800.
Commodity Gold is also looking positive and can be bought above 26550 TG- 26650-26800.

Counter witnessed some sort of buying pressure in the early trading  sessions. For the day we expect this buying momentum may stretch  out till 27000-27050 region for a slid listlessly towards 26820 then  against 26650. Anyhow intraday weakness is expecting only below  26600 towards 26440/26300. Conversely any trades above 27050 would give a confirmation for further upside point to 27180/27360/27550.

A strong recovery from 50200 suggests the recent price action is  merely a consolidation of a triangle pattern. Intraday we favor a neutral to positive bias as long as 51300 hold the downside. On the higher side, rise above 52900 could rejuvenate buying interest and take prices higher towards 54400/55900 levels. It would be required to break 50100 to negate the view and take prices lower.

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The present trading set up looks to be bullish towards  54500/56000 or even more, but early attempts to evolve into a rally  targeting the same are expected to face stiff resistance at 53000, which if unsuccessful would diffuse the buying momentum and the  trend looks for a dip lower towards 50700 then towards 49800 levels for the day. However major falls are anticipated only a close below the strong support of 49000. 

Gold Trading Levels
For the next week traders can use sell on higher level strategy if COMEX Gold sustains below 1600 $ an ounce, then
below 1585 it can test the level of 1560/1540  an ounce. And in MCX Gold below 25400 it can test the level of
25100/24900/24600. 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 24900 and 24500
Major resistance in MCX Gold is 28300 and 28800

Silver Trading Levels 

Technically COMEX Silver is weak on charts. For the next week traders can use sell on higher level strategy if Silver
sustains below the level of 3000$ an ounce, then below 2900$ COMEX Silver can test the level of 2840/2760 an
ounce. And in MCX Silver sustains below 50000 then it can test the level of 48000/46000/44000, Trade by keeping the
proper stop losses.

 

The present technical set up looks to be bullish towards  56200/57000 or even more, but early attempts to evolve into a rally  targeting the same are expected to face the stiff resistance of 53000, which if unsuccessful would diffuse the buying momentum and the trend looks for a dip lower till 49800 levels for the day. However major falls are anticipated only a close below the strong support of
49000.

After taking support near 25650 prices traded firmly early session.  Going forward, we expect prices may face stiff resistance of 26050-100 region and likely to result a drop towards 25800/25650.  Anyhow, an unexpected dive below 25550-500 may give solid  indication for sellers to enter the counter towards the target of 25000. Major rallies favored only above 26200 towards 26550.
 

Gold Commodity :As long as prices hold 26000, counter may mount buying pressure  towards 26400/500, which is likely to hold initially but expect to  extent the rally till 26700 later. On the other side, if prices make  consistent trades below 26000 region would lure weakness towards  25900/25830 then to 25570.

Silver Commodity- Prices pulled backed sharply after taking support at the lower end of the rising trend line support i.e. 51100. Day’s bias prices expect to drift higher towards 54800/56700, but further rallies would be  seen only a close above 57000. A direct fall below 50800 would delay the upside and calling for a re look into the possibilities of origination of a bear trend.
 

Gold prices has been recovering since morning trades likely to extend this recovery till 26800-900 region but if prices continuously trades below 26300 then one could go for sell for the target of 26100-25900. A move below 25500 may call for strong bearishness again. Buying is favored above 26400 till 26700-900.

Silver is looking bullish above 55200 and for the intraday the same level could be tasted if it trades above 54750. Traders can buy silver above 54750 TG-54900-55200. Fresh buying can be taken place above 55500.

Commodity Gold Tips for The week
For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1800 $ an ounce, then above 1890$ it can test the level of 1912/1940$ an ounce and above 1950$ it can further move upward. And in MCX
Gold above 28400 it can test the level of 28600/28750/28900 and Below 27550 in MCX it can test the level of 27350/27060/26900. 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

MCX Silver has just cleared the crucial resistance of 65500 and now heading towards 66000 mark. If prices moves above 65200 then more upside can be seen and silver can progress to 66500-67000 soon.

As if now traders can go for long in silver at 65750 and wait for 66000-66200.

below 65450 trend may get reversed.

Bullion Metals This Week

 
MCX Gold is likely to remain bullish for the week. A break above 28130 will break more upside levels and it may touch 28300-500 and even 28600 mark during this week.

On the downside, trading below 26900 will be a sign of bearishness in Gold.

Silver is also looking strong for the week. If it manages to break 66990 level with substantial volume, the reaction rallies could lif the prices till 68100-69000.