Gold: nice selling seen in gold yesterday and it has done
our 1st target of 1766 as given in our morning market road map,
currently trading at 1761, day trading range 1749-1800, immediate support seen
at 1749, reversal from 1750 area would signal another fresh advance for new
highs that will take it to 1820-1842 zones. 1749 is important to watch failure
below 1749 would signal a decline till 1725-1704 area. Trader can look for
buying near lower band of this range.
Silver: currently trading at 33.81, day trading range is
33-35, as per daily chart it seems that selling pressure may continue in silver
and selling on rise can be a good decision for the day 35$ will remain strong
resistance for the day . Immediate support seen at 33.20 below this a fall till
32.80-32.20 can’t be ruled out on intraday 240 trend is down. Current move is
looking bullish and a rebound from this bottom can’t be ruled out trader can go
long at current price 33.83-33.75 for targeting 34.15-34.60 with stop loss of
33.60. but trend will remain down for the day and selling on rise near upper
band is good .
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