Bullion Intraday Road Map for Mar 05, 2012

Gold: currently trading at 1712, weekly trading range will remain between 1640-1760, trend will remain sideways. Day trading range will remain between 1680-1730; trend will remain sideways with negative bias. Intraday major resistance seen at 1732 consolidation above 1732 it will try to taste 1742-1755-1760 zones. till trading below 1730 gold will remain weak, 1700 is a psychological support below this sharp move can’t be rule decline can’t be ruled out.

Silver: currently trading at 34.70 weekly trading ranges will remain between 32.80-37.40 trend is up. Intraday trading range will remain between 34-35.30 silver has placed at immediate resistance at 34.90 break above 34.90 it will try to taste 35-35.30 for the day. Key resistance for the day will remain at 35.70 reversals from 35.70 is likely but consolidation above 35.70 would offer 36.70-37.10 as target for this bullish attempt above 35.70. Immediate support placed at 34.30 breaks below this next destination will be 34-33.60 and more down side. Till silver trading below 35.30 it will remain weak.

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