Gold: currently trading at 1779.13, day trading range will
remain between 1740-1800, intraday trend will remain sideways. Gold is likely
to move between ranges of 1770-1788. Immediate support seen at 1776 break would
take it to 1770-68 zones. 1768 is key support zone. Failure below this may take
it to 1760-1750 zones for the day. Short term, midterm and long term trend will
remain up for targeting 1800-1925-2060.
Silver: currently trading at 35.42, day trading range will
remain between 34-36, intraday trend is up. Immediate support placed at 35.20
till silver trading above this mark it is likely to move towards 35.65-36
zones. Consolidation above 35.70 areas would offer 38 as near term target for
silver otherwise short term reversal can’t be ruled out from resistance zones
of 35.70-36. Failure below 35.20 would offer 34.90-34.40 as target zones for
short sellers. Today 35.20-35.10 zones will play important role for silver. Short
term and midterm trend are up and offering 38-40 zones as target, long term
trend is still down for targeting 24-20 and 42-48 are important resistance for
long term.
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