Gold: currently trading at 1679.81, day trading range will
remain between 1655-1703; very short term trend is up. Immediate resistance seen at 1688 sustainability
above 1688 will open the doors for 1697-1708. Intraday supports are 1664-1655
retest of 1666-1664 zones can’t be ruled out and 1655 will remain key support
for the day.
Recommendation: Traders can look for buying around 1660-165
area for targeting around 1690-1708 with stop loss of 1655 on daily closing
basis might be appropriate.
Silver: currently trading at 32.53 day trading range will
remain between 32-34.50, trend will remain sideways. Silver having important support
at 32.35 failures may take it to 32-31.80 but 31.80 zones will be potential
reversal zones. Sustainability below 31.80 would neglect our reversal expectations
and fall may take it to 31.30-31 for the day. Immediate resistance seen at
32.68 above this retest to recent high of 33.10 possible. Respect of support
area around 32 would increase more chances for bulls we are expecting this
rally till 34.50.
Recommendation: buying on decline around 32.10-32.30 for
targeting around 33.10-34.40 with stop loss of 31.80 on daily closing basis
might be appropriate.
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