Bullion Intraday Roadmap for Dec 13, 2011

Gold: Currently trading at 1655.02 in day trading range will remain between 1620-1703. Trend will remain down but an intraday recover can’t be ruled out above 1670 if manage to hold then 1688-92 will be next destinations. 1703 will remain important resistance for the day. Till gold trading below 1670 it is likely to taste 1632-1600 area during this swing.

Silver: Currently trading at 31.06 trading range will remain between 30.50-32.40. It seems that silver taking support around 30.75 areas and yesterday nice jump seen till 31.33 from 30.88. now 31.40 will remain import resistance to watch above 31.40 recovery till 31.80-32.40 is possible during the day. Immediate support area 30.75 break would take it to 30.60-30.50 areas. 30.50 will remain key support on daily closing basis. If manage to hold below that on closing basis then a sharp decline can’t be ruled out that may take it to 29.60-28.50-26.70 in coming days.

Comments

Dinesh said…

jai mata di bro.have a nice day.

December 13, 2011 at 12:14 PM

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