MCX Bullions road map for 11 July, 2012

Gold: closed at 29428, trading range 29300-29700, trend sideways with negative bias. 29500 will remain trend decider, stability above 29500 would take it to 29550-29640 key resistance will remain at 29700 stability would signal recovery from immediate bearish developments. Immediate support seen at 29380 stability below this level may take it to 29300-29200 zones.

Silver: closed at 52648, day trading range will remain between 51900-53700, trend is down. Today 53000 will remain trend decider and stability above 53000 may take it to 53300-53600 but key resistance will remain at 53800. Stability below 53000 will remain supportive for intraday bears and silver will try to hit 52500-52300-51950 for the day.

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