Gold: currently trading at 1652.50 day trading range will
remain between 1635-1680 intraday trend is expected to remain up. Immediate resistance
seen between ranges of 1662-1662 stability above 1666 zones would take it to
1674-1682 for the day. Very short term technical indicators are reached in
overbought territory can be the reason of higher fluctuation during day
trading. Major support for the day is 1635-1632 zones failure would signal
retest to 1620-1608 zones.
Silver: currently trading at 31.82 day trading range will
remain between 30.80-32.70; intraday trend is expected to remain sideways with
higher fluctuation due to overbought reading on stochastic oscillator. Immediate
strong resistance seen at 32.10 cross above 32.10 is less likely but stability
above this resistance would offer a retest to 33 zones in short term. Key support
will remain at 31.30 failure would offer 31.80-31.30 as intraday targets in
silver.
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