Gold : currently trading at 1557.55, day trading range will
remain between 1530-1595. Trend will remain down. Gold has tasted important support
of 1550 and made low of 1549.50 that is suggesting more weakness in this
counter. 1559 is an important weekly support that has been broken, signalling down
trend will remain continue for 1530-1470-1430. Weekly closing below 1555 will
decide farther down side. Intraday resistance seen at 1564 if manage to hold
above this mark then rebound possible till 1590-92 but 1592 will be key
resistance for the day.
Silver: last traded price is 26.97 expected trading range
will remain between 26-28 , today silver made low of 26.73 it has done our long
awaited target of 26.70 successfully and
trend is still looking weak. Intraday important levels to watch 26.70-26 break
below 26 will supply more power to our bearish view and silver expected till
slid till 24-22 in short to midterm. Intraday key resistance seen at
27.40-27.45 zones if manage to hold that level then rebound possible otherwise
silver may face selling pressure around 27.45 during intraday rebound.
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