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Intraday Trading Levels for Sep. 13, 2011


Gold comex: expected intraday trading range is between 1800-1870, yesterday nice selling seen in gold and gold made 1801 and closed around 1814. We were expecting 1805 as a support yesterday. Gold broke that support but was not able to sustain below 1805 and after that on hourly close basis gold closed at 1805.72 means that support is still buyer’s interest area.  Expected intraday supports are 1800-1775 immediate resistance seen at 1840-42 zones above this it may jump up to 1860 zones 1870-72 zones can act as unbreakable resistance for the day trader can sell on rise near said resistance area. Trend is still weak.

Silver comex: expected intraday trading range is between 41.50-38.80. Major resistance for the day is 41.50-41.60 zones that can change market trend otherwise silver is looking weak. Immediate support seen at $40 below this level  more selling pressure will take place and silver may taste 38.80-38.50 level during the day 
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