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Gold

MCX Gold opened with an upward gap and remained in positive terrain throughout the day. The hourly strength indicator RSI has turned positive from the oversold territory and is above its reference line indicating positive bias. Price is ‘ moving in a Higher Top and Higher Bottom formation on the hourly chart indicating sustained up trend.

BUY GOLD ABOVE 59500 SL BELOW 59300 TGT 59750/60000

Silver

MCX Silver opened on a flat note and remained positive throughout the session. The chart pattern suggests that if Silver crosses and sustains above 75200 level it would witness buying which would push the price towards 76000-76500 levels. Important support for the day is around 74400.

BUY SILVER ABOVE 75200 SL BELOW 74700 TGT 76000/76500

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