Thursday, 31 December 2015

Gold and Silver Commodity Market Updates

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Gold continues to consolidate in a narrow range between 25200— 25100 levels. The intraday outlook for the counter will remain negative until prices stay below 25280. Prices will move lower towards 25050 levels in that case. A near term reversal in the counter will be seen once prices breakout above 25420 levels. A re-test of 24926/24740 levels is likely once prices start to trade below 25000 levels.

Silver will slide lower towards 33170/33030 levels if prices sustain below 33400 levels. The counter needs to break above 33620 to bounce towards 33800 levels. Any meaningful pullback rally will be seen only if prices close above 33800. The broader technical set-up for the counter remains negative.

1 comment:

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