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Bullion Intraday Road map for Nov 14, 2011


Gold: as per daily chart we are trading with a strong up trend in gold. Currently trading at 1793 day trading range between 1748-1820, short term trend will remain bullish minor resistance at 1805 above that trading range will open for 1820-1849 in coming days. Major support seen at 1774 below 1774 day trading range will remain open for 1762-1752. Weekly trading range will remain between 1680-1890.

Silver: intraday trading range will remain between 33.70-35.50, currently trading at 34.79 trends will remain bullish and silver will try to taste 37 during this week. 35.30-35.70 area will remain resistance zones. 2 consecutive closes above 35.40 on 4 hour chart would confirm this rally till 37 and more upside. 33.80 will remain very strong support for current move for targeting around 35.40-35.70 zones. But further move will confirm after closing above said level. Bios are positive trend is strong up closing above said level will supply more power to our said view. Buying in dips around 34.10-34.20 area can be good idea for the day with stop below 33.70 for targeting 35.30-37 during this week. Weekly trading range will remain between 33-37.

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