Saturday, April 9, 2011

Bullion- Comex Gold Silver Weekly Outlook

Comex Gold
 
Market Overview
COMEX Gold is in an upward phase. Last week COMEX Gold sustains on higher level and closed near to its week high. In the coming week 1375$ will act as a major support in COMEX Gold, if COMEX Gold sustains above 1450 $ an ounce then above 1480 $ an ounce it can touch the level of 1500$ an ounce and if COMEX Gold sustains below 1430$ then it can slightly correct and test the level of 1410$ an ounce.

Strategy
For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1450$ an ounce, then above 1480$ it can test the level of 1500$ an ounce and above 1505$ it can further move upward. Trade by keeping the strict stop losses.

Major support for COMEX Gold in the coming week is 1430$ and 1410$.
Major resistance for COMEX Gold in the coming week is 1505 $ and 1535$
Major support in MCX Gold is 21150 and 20900
Major resistance in MCX Gold is 21500 and 21650


Silver

Market Overview
COMEX Silver is technically strong on charts. Last week COMEX Silver broke its
psychological level of 4000$ an ounce and closed above that. For the upcoming week 3900$ and 3750$ are the crucial supports and 4150$ and 4300 $ are crucial resistance in COMEX Silver. In MCX Silver 62500 and 64500 will act as major resistance and 57500 and 54500 will act as major supports.
 
Strategy
Technically COMEX Silver is strong on charts, For the next week traders can use buy on lower level strategy if Silver sustains above the level of 3900$ an ounce, then above 4100$ an ounce it can further go upward and can test the level of 4160$ an ounce. Trade by keeping the proper stop losses.

 

1 comments:

Vivek Singh said...

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Posted By Commodity MCX Tips