Gold Updates
COMEX Gold has given downside movement at the last days of the week after consolidation in the initial days of the week. In this week 1650 $ will act as a major support in COMEX Gold and 1805 $ will act as a major resistance.
Resistance: 1841 - 1766.
Support: 1715 - 1640.
Strategy: For this week traders can use sell on higher level strategy if COMEX Gold sustains below the level of 1740$ an ounce, then below 1715 $ it can test the level of 1675$/ 1640$/ 1600$ an ounce. And in MCX Gold below 28000 it can test the level of 27700/27550. Trade by keeping the strict stop losses.
- Major support for COMEX Gold in the coming week is 1700$ and 1660$.
- Major resistance for COMEX Gold in the coming week is 1770$ and 1805$
- Major support in MCX Gold is 27500 and 26800
- Major resistance in MCX Gold is 28400 and 29100
Silver Updates
COMEX Silver is technically consolidating on the charts. Last week COMEX Silver was sustaining at higher levels but at the last day of the week it showed downside movement. For this week 3150 $ and 3000$ are the crucial supports and 3600$ and 3800$ are crucial resistance in COMEX Silver. In MCX Silver 58000 and 60000 will act as major resistance and 54600 and 52400 will act as major supports.
Resistance: 3666 - 3446.
Support: 3298 - 3074.
Strategy: For this week traders can use sell on lower level strategy if Silver sustains below the level of 3400$ an ounce, then below 3290$ COMEX Silver can test the level of 3200$/ 3130$/ 3070$ an ounce. And in MCX Silver sustains below 56100 then it can test the level of 55400/54800/54300, Trade by keeping the proper stop losses.
