MCX Bullions road map for 03 July, 2012

Gold: closed at 29660, trading range 29400-29800, trend is sideways. Immediate support at 29630 failure would take it to 29580-70 zones failure below 29560 will signal retest to 29450-400 zones. 29400 will remain key support for short term. Resistance seen at 29760 stability would offer 29810-29930 as target zones. Today trend decider level will be 29660, bulls will remain aggressive above this level and stability below this level would support intraday bears.

Silver: closed at 54513, day trading range 53000-54300, trend will remain sideways. Immediate resistance seen at 53650 stability would offer 53850-54000-54200 as target zones. Stability below 53660 will remain supportive for bears and silver will try to hit 53200-53000 zones. short term support at 53000 close below this level would signal short term decline that may take it to 52500-51800.

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