GOLD
Gold yesterday moved in the upside direction to hit the key resistance level at 936.50 but failed to breach causing a reversal movement to the downside to reach the important support level at 926.00. Today we expect gold to move in a neutral direction due to the restrictions.
The trading range for today will be between the key resistance at 940.00 and the key support at 900.00.
The general trend is up as far as 810.00 remains intact targets now at 1080.00 and 1170.00.
| Support | 925.45 | 922.50 | 920.00 | 917.00 | 915.45 |
| Resistance | 928.10 | 930.25 | 933.80 | 935.80 | 936.20 |
Recommendation | We expect selling gold below 932.50 with a target at 910.00, stop loss above 940.00 | ||||
SILVER
Silver moved yesterday in the upside trend until the key resistance level at 18.00s but as it lacked momentum, it declined to hit the critical support level at 17.75. Today we expect silver to continue in the downside direction.
The trading range for today will be between the key resistance at 18.30 and the key support at 17.30.
The general trend is up as far as 13.20 remains intact targets now at 22.00 and 25.00.
| Support | 17.58 | 17.37 | 17.20 | 17.00 | 16.88 |
| Resistance | 17.85 | 18.05 | 18.27 | 18.45 | 18.60 |
Recommendation | We expect selling silver below 18.00 with a target at 17.60, stop loss above 18.20. | ||||