mcx gold weekly forecast for 22 to 27 june 2015
Mcx gold future this week closed at 27081 with gains. This was second weekly gains for this precious metal. On weak rupee as well as short covering in comex gold we seen some buying as well as short covering intraday rallies. Mcx gold weekly price trend and momentum both are bullish.
Gold prices are trading above major averages with bullish divergences on indicators suggesting long trades in gold future.
For next week, above 27k on closing basis keep long view for gold future. On upside 27550 and above are gold targets for next week. On downside below 27k next major support is at 26400.
mcx silver weekly forecast for 22 to 27 june 2015
Mcx silver this week closed at 36680 with flat gains. On weekly chart for silver this was first positive weekly closing after last 4 weeks continues selloff. This week silver high was at 37480 while low was at 36250.
On weekly chart, silver prices still trading below major averages but with recovery patterns on indicators. Silver is underperforming as compared to gold and might continue to do so.
For next week, silver future outlook will remain bearish below 38350. Technical bounce back is happen then 38350 will be target for that rally. On downside 36100 and 33800 are strong support zones as well as targets for current trend.