4:09 PM
Nifty Tips
Gold- Market Overview
COMEX Gold is in an upward phase. Last week COMEX Gold does not sustain on higher level and closed near to its week low. In the coming week 1460$ will act as a major support in COMEX Gold, if COMEX Gold sustains above 1460 $ an ounce then above 1505 $ an ounce it can touch the level of 1525$ an ounce and if COMEX Gold sustains below 1460$ then it can slightly correct and test the level of 1440$ an ounce.
COMEX Gold is in an upward phase. Last week COMEX Gold does not sustain on higher level and closed near to its week low. In the coming week 1460$ will act as a major support in COMEX Gold, if COMEX Gold sustains above 1460 $ an ounce then above 1505 $ an ounce it can touch the level of 1525$ an ounce and if COMEX Gold sustains below 1460$ then it can slightly correct and test the level of 1440$ an ounce.
Strategy
For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1460 $ an ounce, then above 1505$ it can test the level of 1522 $ an ounce and above 1530$ it can further move upward. Trade by keeping the strict stop losses.
Major support for COMEX Gold in the coming week is 1450$ and 1410$.
Major resistance for COMEX Gold in the coming week is 1605$ and 1645$
Major support in MCX Gold is 21600 and 21200
Major resistance in MCX Gold is 22450 and 23050
Silver -Market Overview
COMEX Silver is technically weak on charts. Last week COMEX Silver closed near to its week low. For the upcoming week 3300$ and 3100$ are the crucial supports and 4000$ and 4250 $ are crucial resistance in COMEX Silver. In MCX Silver 61000 and 64000 will act as major resistance and 50000 and 47000 will act as major supports.
COMEX Silver is technically weak on charts. Last week COMEX Silver closed near to its week low. For the upcoming week 3300$ and 3100$ are the crucial supports and 4000$ and 4250 $ are crucial resistance in COMEX Silver. In MCX Silver 61000 and 64000 will act as major resistance and 50000 and 47000 will act as major supports.
Strategy
Technically COMEX Silver is weak on charts, For the next week traders can use buy on lower level strategy if Silver sustains above the level of 3300$ an ounce, then above 3700$ an ounce it can further go upward and can test the level of 3850$ an ounce. Trade by keeping the proper stop losses.
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