MCX SILVER WEEKLY UPDATE – AS WE PREDICTED LAST SUNDAY MCX SILVER CLOSE BELOW 39400 LOOK WEAK ELSE IT WILL BOUNCE BACK LOOK AT WEEKLY LOW BUT FAIL TO CLOSE BELOW ON DAILY BASES, NOE NEXT WEEKLY VIEW
MCX SILVER – LONG TERM VIEW
ADVANCE VIEW ON THE BASIS OF TECHNICAL CHARTS
LONG TERM चार्ट पर MCX SILVER SELL ZONE मैं ट्रेड कर रहा है।
LONG TERM चार्ट पर MCX SILVER मैं 40235 के नियर एक अछा RESSISTENCE लेवल है। अगर MCX SILVER 40235 लेवल के UPPER बंद आया तो UPPER मैं 40625 और 41075 तक जाने की सम्भावना है।
MCX SILVER मैं जब तक 40235 के UPPER DAILY BASIS पर CLOSE नहीं आता है इस COMMODITY को हर UPPER लेवल पर SELL करके BUY ही करना चाहिए NICCHE मैं 39648 और 39243 तक जाने की सम्भावना है। केवल 40235 के UPPER बंद आने पर ही इस COMMODITY मैं नई BUYING करनी चाहिए।
Bullish over 40235 with 40625 and 41075 as price target
Bearish below 40235 with 39648 and 39243 as price target
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Gold prices hovered near 10-month highs on Tuesday as optimism around U.S.-China trade discussions dimmed the dollar’s appeal, while palladium struck a record high on supply concerns.
Spot gold XAU= slipped 0.2 percent to $1,323.28 per ounce as of 0648 GMT. The metal had touched $1,327.64 an ounce in the previous session, its highest since April 25.
U.S. gold futures GCv1 rose 0.3 percent to $1,326.4 an ounce.
A new round of talks between Beijing and the United States to resolve their trade spat will take place in Washington later in the day, with follow-up sessions at a higher level in the course of the week. there is progress in trade talks there will be increasing appetite for emerging-market currencies, and the U.S. dollar will weaken,” Argonaut Securities analyst Helen Lau said, adding that the dollar will lose its safe-haven appeal, which will be supportive of gold.
Spot gold may test a resistance at $1,331 per ounce, a break above which could lead to a gain to the next resistance at $1,343, according to Reuters market analyst Wang Tao. prices have inched up and consolidated above $1,325. Softer economic prospects are likely to put some pressure on interest-bearing assets,” said Benjamin Lu, an analyst with Singapore-based Phillip Futures.