Mcx gold weekly – achieved 29380 target next is 30300
Mcx gold future this week closed at 29418 with huge gains. This was second positive week for gold prices on soft dollar index as well as geopolitical risks. This week we saw low of 28600 and high near 29500. Total 900 rupee rally and closed near week high suggesting strong bullish momentum. Mcx gold future achieved my given April swing target of 29380 and closed above it suggesting fresh breakout for next target of 30300. For next week, mcx gold future support zones are 29350-29050 and 28850 while on upside 29500-29785 and 30300 are resistance zones as well as target zones. From long term view, in 2017,gold future given bullish breakout above 28300 and now heading towards my long term technical targets of 31450 and 35600.
Mcx silver weekly-trend breakout for targets 44250 and 46380
Mcx silver future this week closed with gain at 42596. After last week’s sharp fall prices recovered from bearish territory and given bullish trend breakout above 42050 and closed above it. This week mcx silver hit low near 41k and high of 42700 means 1700 rupee range and closing near week high with strong underlying bullish drive. learn Want on whatsapp with live market support and follow ups then today.! Mcx given trend breakout and entered into bullish trend for targets 44250 and then expect swing tgt up to 46380. For next week mcx silver remain buy on dips with stop loss. On downside support zones are 41980 and 41660 while on upside 42850 and then 44100 are resistances as well as positional target zones. From long term view, mcx silver has taken support at 40400 and continued its bullish trend. For 2017, my mcx silver long term technical target zones are 47500 and 56000. learn how to identify long term trend for investment ?