Gold & Silver Weekly Outlook for Trading

DSR Broking

GOLD 

Gold weekly outlook Minor support for the commodity lies in the zone of 28350 to 28400. Support for the commodity lies in the zone of 28100 to 28200 where Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 27800 to 27900 where break out levels are lying.

Resistance for the commodity lies in the zone of 28600 to 28700 where medium and long term moving averages are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 28900 to 29000 where Fibonacci level is lying.

Broad range for the commodity in the coming week can be seen between 28000 – 28100 on downside & 29000 – 29100 on upside.     

SILVER        

Silver weekly outlook Minor support for the commodity lies in the zone of 37950 to 38000. Support for the commodity lies in the zone of 37500 to 37700 where long term Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 37000 to 37200 where break out levels for the commodity is lying.

Resistance for the commodity lies in the zone of 38500 to 38600 where short term moving averages are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 38800 to 39000 from where the commodity has sold off.

Broad range for the commodity in the coming week can be seen between 37500 – 37700 on downside & 39300 – 39500 on upside                        


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