Bullion Intraday Road Map for Dec 30, 2011

Gold: last traded price 1552.90, expected day trading range will remain between 1520-1562. Today rebound possible 1562 is important to watch if gold manage to hold above 1562 then it will be out of panic and will try to move towards 1590-1620 for the day. Immediate support at 1542-1536 key breaks would signal a retest of 1524-26 support zones. But 1522 will remain key support for short term break below this is less likely but would signal fall till 1470-1430 in coming days.

Recommendation: Buying in dips will be good trading decision in gold with stop loss below 1522 for targeting around 1590-1620

Silver: last traded price 27.30 day trading range will remain between 26-28. Key resistance at 27.85 break would signal really till 28.90-30 in short term immediate support seen at 27 break may take it to 26.80-26.70 range but 26.70 will remain key support for intraday and 26 will remain key support for short term till silver trading above 26 we are expecting a rebound and silver will try to move towards 28-30 for very short term.

Recommendation: Buy on decline around 26.50-26.70 for targeting around 28.80-29.90 with stop loss below 26.10 on daily closing basis.

Comments

Dinesh said…

jai mata di bro.have a nice day.

December 30, 2011 at 12:16 PM

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