Gold: currently trading at 1704.93, intraday trading range
will remain between 1680-1740. Immediate resistance seen at 1714 range hourly
closing above 1714 would signal rally up to 1727-1740 for very short term. Immediate
support seen at 1700 failure below 1700 would signal and declines till
1690-1680 zones. Trader can take long positions around 1702-1704 with s strict stop
loss below 1697 for expected targets around 1713-1725 during the day.
Silver: currently trading at 31.66, day trading range will
remain between 30.50-32.60. Silver is taking very strong support near 30.50
zones and its 2nd time when silver jumped from that support area. Today also 31 and 30.50 will act as very strong
support zones further fall only possible below 30.50 other wise rally may take
it to 32.60 during the day. Immediate support seen at 31.30 below this fall
till 30.90 zones can’t be ruled out, 30.50 will remain major support for short
term. Immediate resistance seen at 31.90 above that intraday rise expected till
32.30-32.60. Buying around 31.30 will be a good idea with stop loss below 30.90
for targeting around our said resistance zones.
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