MCX Bullions road map for 26 Jun, 2012

Gold: closed at 30080, trading range 29600-30340, very short term trend sideways, general trend is up. Today 29990 will be trend decider failure would signal intraday decline till 29900-29860 today 29700 will be key support and failure and close below 29700 may trigger short term bearishness in gold and gold may try to hit 29100 zones. Immediate rest seen at 30180 stability would signal intraday rise till 30260-30320. Key resistance will be 30330 breach of this level will trigger continuation in uptrend and 30700-30800 will be primary target in short term.

Silver: closed at 53675, trading range 52200-54500. Short term trend down. Immediate resistance seen at 53900 stability above this will take it to 54300-54400 zones but 54500 will remain key resistance for very short term and stability above 54500 may neglect our bearish outlook for very short term. Today 53200 will be important till holding above this level metal will remain bullish and will try to hit resistance zones. Failure below 53200 may take it to 52800-52400 key support will remain at 52200.

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