Bullion Intraday Road Map for Feb 23, 2012

Gold: currently trading at 1773.71, day trading range will remain between 1740-1805, trend is bullish. Yesterday gold has broken out its midterm resistance of 1763 and nicely jumped till 1781.82 zones. Today 1748 will remain key support. Immediate support seen at 1768 below this 1760-1752 can’t be ruled out. Major resistance only 1805 consolidation above 1805 would signal rally till 1920-2060 in coming days.

Silver: currently trading at 34.24, day trading range will remain between 33.80-35.20, trend is bullish. Immediate support placed at 33.80 failures may invite bears in this counter till trading above 33.80 silver is looking bullish and likely to taste 34.45-35.20-35.70 during this rally. 34.50 is key resistance in silver we need consolidation above this level to confirm further upside.

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