Gold: currently trading at 1687.54 trading range will remain
between 1640-1740. Immediate support seen at 1675 current swing may take it to
1697-1710 area a breakout above 1715 would signal an advance till 1738-42. A breach
of intraday immediate support of 1675 would signal a intraday downward move
till 1668-66 and a break below this important level would take it to 1640-1620
area for the day. As per current scenario we will suggest traders to buy around
1680-82 are with stop loss below 1675 for targeting around 1697-1710 during the
day. Intraday selling may appear near resistance area 1710-15 zones. Short sellers
can use 1715 as stop loss if want to create shorts near resistance area of
1710-15 zones.
Silver: currently
trading at 31.47as per daily chart trend will remain weak and silver may taste
26.70 during this weakness. But silver is still holding our 1st expected
support of 30.50. As written in my blog post on November 17, 2011. Day trading
range will remain between 30.50-32.60, immediate support seen at 31.30 breaks
below 31.30 would signal a partial decline till 30.80. But 30.80 is looking a
good support, failure below 30.80 would take it more down side till 30.50-30
are for the day. Respect of 30.80 would signal intraday advance till 32-32.60.
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