Bullion Market Report As On 2nd December 2014

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February gold posted a huge key reversal up on Monday as a rebound in energy prices stimulated renewed demand for metals. The high-range close sets the stage for a steady to higher opening when Tuesday’s night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. First resistance is at 1230. Second resistance is at 1245. First support is at 1165. Second support is at 1155.
March silver posted a key reversal up on Monday. The high-range close set the stage for a steady to higher opening when Tuesday’s night session begins trading. Stochastics and the RSI turning neutral to bearish signaling that sideways to lower prices are possible near-term. First resistance is at 17.10 second resistance is at 17.40. First support is at 15.95. Second support is at 15.70.
Source:RSBL

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