Gold COMEX: expected intraday trading range is between 1740-1880 trend is still looking weak on short term time frame. Immediate resistance seen at 1855 above 1855 rise may take it to 1880-85 area but we are expecting 1910 as an unbreakable resistance for the trader can use 1910 as stop loss if want to enter in sell around 1860-80 zones we are expecting this fall till 1750 in near term. Intraday important support to watch for gold are 1802 below 1802 fall may take it to 1770-1720 during the day and on midterm time frame2 consecutive close below 1745 will confirm a fall till 1600-1560 zones.
Silver COMEX: Expected intraday trading range is between $39.50-42.50, yesterday nice recovery seen from its horizontal support of 40.20 to 41.79. currently silver is moving in a band of 41.20-41.80 a break above 41.80 may take it to 42.50-43 during the day selling on rise may be good idea for silver and 42.50-42.80 may be a good range for silver sellers we are expecting a fall till 39.40-38.80 during this bearish move in silver but 2 cons active close below 38.80 zones may take it to more down side till 37.20-34 in midterm time frame but a rise till 42.50 zones can’t be ruled out before a fresh fall. Aggressive trader can take intraday long position around 41.40-41.50 zones with a tight stop loss of 41$ for expected target of 42-42.50 during the day and selling on rise is our view for short term.
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