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Sensex: 35511.6 +251.30 Gold: Rs.29753.00
Nifty: 10894.7 +77.70 Silver: Rs.38989.00
Buy Zinc around 214.30 and MCX Gold around 29220 -
Buy Zinc around 214.30 and MCX Gold around 29220
Way2wealth | Published: 09 Jan, 2018  | Source :


Gold  prices  consolidated  yesterday  for  the  whole session  in  the  range  of  29160-29300  levels.  Prices have  broken  out  from  its  declining  trend  line resistance in the previous session and are expected to rise further from these levels towards next resistance placed around 61.8% Fibonacci retracement of its fall from  high  of  30474  till  low  of  28055,  which  is  placed around  29550  level.  On  the  lower  side  immediate supports are placed around 29220 and 29050 levels.


Zinc prices  rose  strongly  in  the  previous  session  and made  two  months  high  of  216.30.  Prices  have  been rising gradually after breaking  out from its short term  declining  trend  line  resistance  and  taken  strong support  at  its  short  term  rising  trend  line  currently around  213.80  level.  Prices  are  expected  to  continue this  rally  in  the  near  term  and  rise  further  towards next strong resistance placed around its previous  high of  218.80.  On  the  lower  side  immediate  supports  are placed around 214.30 and 211.50 levels

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