Stock Market Institute : Precious Metals outlook for the week

Posted By : Kishore B.S

GOLD:

Gold Technical Chart

 

Gold is in the Intermediate Downtrend and in Unable to Cross the 28400-28800 mark from quite long time, the Trend is indicating that the Negativity is likely to Continue and the support zone of 27700-27510-27330  is likely to be tested again. It would be advisable to short on rallies with stoploss of 28300-28440 for the short term.

 

 

SILVER:

 

Silver Technical Chart

 

Silver has been moving in a wide range for the last few sessions between 55840-58150, and the charts indicate that the consolidation is likely to continue for some more days to come. Since the range is huge it would be advisable to go trade in small quantities till the trend gets clear and Long above 58150 only if the price holds or else to short with stoploss of 58380 levels.

On the lower side 55840 has been a solid base which can be used to initiate some decent long positions with stoploss of 55000.

 

(Inputs: Mr. Hemath V, Faculty TA, Stock Market Institute)

Cheers!!

Team SMI

www.stockmarketinstitute.org

2 Comments

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    April 12, 2012

    Thanks for helping out, excellent information. 23939

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    April 25, 2012

    Satisfying posting. It would appear that lots of the stages are depending upon the originality aspect.

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