Bullion Intraday Road Map for Apr 12, 2012

Gold: currently trading at 1658.36 day trading range will remain between 1630-1680; trend will remain up for intraday. Immediate support seen at 1650 failure will take it to 1644-1634 zones for the day. 1630 will remain key support, failure would signal negativity and gold will try to move towards 1618-1608 for the day. Major resistance for the day is 1666 stability above 1666 will take it to 1675-85 zones for the day.

Silver: currently trading at 31.58 day trading range will remain between 30.80-32.20; trend will remain sideways with negative bias till trading below 32.20. Immediate support seen at 31.30 consolidations below 31.30 will take it to 30.90-30.30 zones for the day, till trading above 30.90 sideways move expected between 31-32.10 stability above 32.20 would signal 32.70-33.10 as primary targets for bulls. 33.30 will remain key resistance for this downtrend.

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