Gold: currently trading at 1609.26 expected trading ranges
will between 1580-1645 with sideways trend. Immediate support seen at 1605
break will take it to 1592-1582 for the day. 1682 is looking key support, if
manage to hold below 1582 for some time then it will try to move towards
1565-1530 zones. Immediate resistance seen at 1620 break above 1620 will open
the doors for 1640-45 zones 1642 will act as key resistance for the day. If
manage to hold above 1642 for some time then it would signal a rally till
1665-85-1705 in near term. As per current scenario 1605 is important to watch
for intraday down side.
Silver: currently trading at 29.12 trading range will remain
between 28.50-30; trend will remain bearish for the day. Immediate support at
29 breaks will signal retest to 28.80-28.50 key support at 28 breaks will
signal another fresh bearish move that will take it towards 26.70 that is our
long awaited target for this downtrend. Immediate resistance seen at 29.30 breaks
would signal upward move till 29.55-29.60 area. If manage to hold above 29.60
then retest to 30-30.20 can’t be ruled out 30.20 will remain key resistance
breakout would signal rally till 30.50-30.80 for the day.
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