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Intraday Trading Levels for Sep. 12, 2011


Gold comex : expected intraday trading range between 1810-1890, intraday trend is still weak and a big fall below 1805 can’t be ruled out, 1910 is looking very stiff resistance. Immediate support seen at 1837 below 1837 a retest of 1822-1806 possible during the day, but big fall only will take place below 1805 if sustain more than 15 minutes, that can retest 1750-45 during this fall. Immediate resistance seen at 1868 above 1868 a rise may take place up to 1890-1910 during the day a daily closing above 1905 zone will completely neglect all our bearish view and up side rally may lead towards 2100+ in short term.

Silver Comex: expected intraday trading range is between $40.30-42.60, silver is still moving in a band off 40.30-42.70 a buying and selling pressure seen near support and resistance of this band.  Intraday important level to watch is 40.30-40.20 zones. Below 40.20 we can see a big fall during the day. and next major support will be 38.70 below 40.20. bears need not to worry till silver not sustain above 42.70 above 42.70 it may rise up to 43.50-44.30 during the day . Silver is currently trading with negative bios bears can sell around 41.10-41.20 with stop loss of 41.60 for target around 40.40 during the day.
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