Monday, 25 May 2015

Best Gold and Silver Trading Tips Provider

It is clearly evident on the given daily chart that MCX Gold has cleared the much awaited resistance of 27300 level after many months. This has resulted in a decisive break out in the counter. In addition, GOLD surged towards 27600 mark and is now back to 27450 which can be termed as a pullback.

In the upcoming week, a move above 27600 level will trigger sharp buying in GOLD which can pull it towards 27800 - 28000 level.

Given here is the hourly chart of SILVER which depicts that the commodity has been trading upwards right from the 37500 level and recently sneaked above the 40100 mark. Now, we are witnessing a multiple top formation near 40100 mark. A move above the same might result in a bullish flag breakout. In such scenario, Silver can travel above 40500 levels also. However, in case if the commodity breached 39750 level then it can correct towards 39300 level being in an overbought territory. 

Even the momentum oscillators are signaling towards a breather for the time being.

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