Gold: Currently
trading at 1638.59 day trading range will remain between 1624-1652, trend is
down. Gold moving in a symmetric triangle and turned back from support line of
triangle on Friday today failure below 1624 would signal symmetric triangle
breakout that may take it to 1585-1575 zones in very short term. Intraday key
resistance seen at 1652 stability above 1652 may attract short term bulls otherwise
trend will remain down and 1624 will remain key support.
Silver: Currently trading at 30.13 day trading range will
remain between 29.60-31.50. Trend is down. Today important resistance to watch
is 30.50 stability above 30.50 will support intraday bulls and it will try to
head towards 31-31.40 but 31.50 will remain key resistance for short term. Immediate
support seen at 29.90 breaks may take it to 29.60 for the day. Till silver
closing below 31.50 short terms outlook will remain bearish and 28.60-26.30 are
expected levels.
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