Bullion Intraday Road Map for Nov 29, 2011

Gold: currently trading at 1710, day trading range will remain between 1680-1740.Trend will remain sideways. Immediate support seen at 1705 below 1705 fall till 1698-1692 can’t be ruled out. 1699 will act as midpoint of this trading range bears will remain aggressive below 1699. Till gold trading above 1705 gold will remain bullish and major resistance for the day are 1722-27-1740.

Silver: currently trading at 31.91, day trading range will remain between 30.50-33. Yesterday nice selling seen near our expected resistance are of 32.30 and silver entered under 32, today further upside only possible above 32.30 other wise bears will remain aggressive. Immediate support seen at 31.75 failure below this support silver will try to taste 31.30-31 are during the day. Major resistance for the day will remain at 32.30 above this rally will take it to 32.60-33 during the day. Intraday trend will remain sideways.

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