Gold : currently trading at 1591.90 intraday trading range
will remain between 1560-1640. Immediate resistance seen at 1604.80 if manage
to hold then it would signal intraday rally till 1620-1625. Key resistance for
week seen at 1716 above that some consolidation expected for short term otherwise
down trend will remain continue. 1560 will remain key support for daily and
weekly basis weekly close below 1560 would offer down side target till
1470-1440. Intraday immediate support seen at 1580 break would signal retest to
1560 would offer down side target 1535-1470 for coming days. Trend will remain
down till trading above 1560 rebound can’t be ruled out till 1620-25 area. Till
trading below 1605 sideways moment expected between 1560-1600. Seller can use
1605 as stop loss for now if want to go short for expected targets till
1583-1565
Silver: currently trading at 29.06 expected trading ranges
will remain between 28.40-30. Silver is facing very stiff resistance at 30 nice
selling pressures seen on Friday from high of 29.91 and defined very strong
resistance at that area now till silver not manage to cross that resistance
zone not further upside expected and down trend will remain continue for the
day and will try to taste 28.55-28.40 zones. 28 will remain key support for
week and day breakout suggest down side target 26.70 in very short term. Immediate
support seen at 28.95 breaks would signal retest of 28.50-28.00 zones. immediate
resistance seen at 29.30 break would signal retest to 30 zones for the day.
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