Bullion Market Report As On Jan 7 2015

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February gold closed sharply higher on Tuesday for the third day in a row. The high-range close sets the stage for a steady to higher opening when Wednesday’s night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. First resistance is at 1226. Second resistance is at 1235. First support is at 1208. Second support is at 1200.
March silver closed higher on Tuesday and above Tuesday’s high crossing at 16.480 marking an upside breaking out of the trading range of the past two-weeks. The high-range close set the stage for a steady to higher opening when Wednesday’s night session begins trading. Stochastics and the RSI are bullish signaling that sideways to higher prices is possible near-term. First resistance is at 16.75. Second resistance is at 16.85. First support is at 16.20. Second support is at 16.05.
Source:RSBL

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