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Bullion and Base Metal intraday road map for Nov 25, 2011


Gold: Currently trading at 1694.5, day trading range will remain between 1660-1715. Immediate support seen at 1684 breach below this would signal downward momentum till 1675-1665, major support for the day is 1665 below this fall till 1635-1632 area can’t be ruled out. Immediate resistance seen at 1702 penetration above this would signal an advance till 1710 major resistance for the day is 1710 if gold manage to hold above 1710 then 1725 would be next expected level.

Silver: currently trading at 31.77, day trading range between 30.50-32.60. Till trading above 31.40 it will try to move towards intraday resistance 32.60, above 32.60 major resistance seen at 33 for the day. A failure below 31.40 would invite sellers and silver will try to head towards support zones that are around 31-30.50 below 30.50 it will open the doors for 29.60-26.65 for coming days.

Copper  COMEX: currently trading at 3.2775, day trading range will remain between 3.0000-3.3700. Immediate resistance seen at 3.3100 above this it would signal upward momentum to taste upper band of day trading range. Immediate support seen at 3.2200 breach of this support is less likely but retest can’t be ruled out but failure would signal downward momentum till 3.0000. 3.3700 will remain important level to watch penetration above this level would confirm a short term recovery till 3.6000-3.7200
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