Gold: currently trading at 1731.06, trend down, day trading
range will remain between 1704-1755. Immediate support at 1724 break would take
it to 1717-1711-1705 for the day. Immediate resistance placed at 1736 a breach
of this level would signal intraday rally till 1741-1751 and 1763 would remain
key resistance for the day. Consolidation above 1763 would for 1795-1805 as
primary targets otherwise it is likely to correct till 1706-1686 zones till not
manage to close above 1763.
Silver: currently trading at 33.85 day trading range will
remain between 32.90-34.40, trend is down. Immediate resistance placed at 34.05
breaks above 34.05 would signal intraday consolidation between ranges of
33.80-34.40, till trading below 34.05 it is likely to taste 33.60-33.20 for the
day 32.90 will remain key support and failure below 32.90 would signal short
term bearishness in silver. Key resistance will remain at 34.60 for the day
consolidation above 34.60 would signal resumption to bullish move and
35.20-35.70 will be next destination for silver.
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