GOLD COMEX: intraday expected trading range is between 1810 -1885, yesterday nice recovery seen in gold and closed at 1869.90. Some strong up side moment can’t be ruled out if gold manage to hold above 1885 for some time. Immediate support seen at 1845 below 1845 fall may take it to 1822-1810 but 1810 is looking still a very strong support for gold. Intraday bears can look for selling around 1885-90 with stop loss of 1910 for expected targets of 1855-45-25 and intraday bulls can look for buying around 1814-20 range with stop loss below 1810. Today is weekly close also for international commodity markets so 1810 is a major level on weekly basis if gold manage to close below 1810 today then it may confirm a short term bear market for gold and a fall till 1750-1600 can’t be ruled out .
SILVER COMEX: expected intraday trading range is between 41.20-43. Silver is still confusing and still taking support on support line of ascending parallel channel. Immediate support resistance seen at 42.65 zones above 42.65 if silver manages to hold then we can see a rise till 43.20-43.50 zones for the day. Immediate support seen at 42 a failure below 42 may take it to 41.60-41.30 during the day if silver manage to hold below 41 for some time then some more bear can enter in the streets and silver may again fall till 40.30 zones but major confirmation to big fall will only confirm below 2 consecutive close below 40 or weekly closing below 41. Selling at rise around 42.60 can be good idea with stop loss above 42.75 and buying in dips around 41.20-41.30 with stop loss of 41 can be good idea for day traders .
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