Gold: last traded price 1606.30 day trading range will
remain between 1580-1640. Very short term trend is down. Gold is likely to
taste 1580-1550 zones before further upside. 1628 will remain key resistance
for this view. 1590 is looking minor support and major support seen at 1580
break would signal down side till 1560-1550 zones. Immediate resistance seen at
1613 above this level it will try to taste 1617-1624 zones for the day. 1628
will remain key resistance on 240 minute closing basis.
Silver: currently trading at 28.74. Day trading range will
remain between 28.40-29.90 immediate support seen at 28.40 breaks would signal
a decline till 27.70 and more down side. Immediate resistance seen at 28.95 breaks
would signal 29.20-29.60 for the day. 29.90-30.20 zones will remain key
resistance for short term. Till silver
trading below 30.30 on daily closing basis trend will remain down and a retest
of 27.40-27 zones can’t be ruled out.
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