Buy MCX Gold | Immediate resistances are placed around | Commodity trading | Technical views on commodities |

Gold prices opened flat in the  last session and prices  broke  out  from  its  short  term  declining  trend  line  resistance  soon  after  opening.  Prices  have  sustained  and  also  closed  above its  trend  line  break  out  level,which  is  suggesting  a  short  term  rally  to  continue  in  the  next  few  sessions  towards  immediate resistances  placed  around  30170  and  30470  levels.  On  the  lower side immediate supports are placed around 29870 and 29720 levels.

Silver prices  opened flat in the last session and prices  rose  gradually  for  most  of  the  session  till  high  of  40632. Prices  have been  recovering  strongly  in  the previous  few  weeks  and formed  a  potential  inverse head  and  shoulder  chart  pattern,  which  is  suggesting this rally to continue in the next few sessions towards immediate resistance placed  around 41250  level.  On the lower side immediate supports are placed around 40450and 40100 levels.

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