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Bullion Intraday Road Map for Jan 18, 2012


Gold: currently trading at 1653.02, day trading range will remain between 1640-1685. Trend will remain up till trading above 1640 and likely to taste 1680-1685 zones during this rally. Support seen at 1640 failure would signal fall till 1630-1620 area in near term. Immediate resistance seen at 1656 above this gold will try to taste 1665-1680 zones in near term.

Silver: currently trading at 30.08, day trading will remain between 29.30-30.80 trend will remain sideways till silver trading below this zone. Immediate support seen at 29.75 breaks below this is less likely but break would signal retest of 29.30 breaks below 29.30 would signal failure of bullish swing and retest of 28.50-28.40 can’t be ruled out. Immediate resistance seen at 30.15 cross above this would open door for 30.50-30.80 zones, but silver need a close above 30.80 to confirm further upside rally that will take it to 32.20-32.70-35 in near term. 

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