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Bullion Road Map for the day Nov 02, 2011


Gold comex: currently trading at 1724 expected trading range is between 1678-1745. 1732 is still looking a good resistance above 1732 possible levels for the day is 1744-1758. Intraday trend will remain sideways with negative bios. Immediate support seen at 1711 below 1711 expected levels are 1700-1678. Break below 1678 is less likely penetration of support would signal a decline till 1655 zones.

Silver comex:  currently trading at 33.36, day trading range 32-33.70. Intraday trend sideways with negative bios. 33.80 is important level to watch for bulls. Till trading below 33.70 retest of 33-32.60 levels are possible. Below 32.30 intraday selling pressure expected, penetration would signal a decline till 31.80-31.20. Breakout above 33.70 would signal bullish wave for expected targets 34.20-34.80.

 INR/USD: currently trading at 49.365, intraday trading range is 49-49.60 bios are positive rise till 49.60 can’t be ruled out. Intermediate trend is still up in this pair. In coming days weakness will remain continue in INR against us dollar in case of any change in trend we will update. 
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