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Bullion Road map for the day Nov 21, 2011


Gold: currently trading at 1723.09, trading range will remain between key supports 1680 to 1768. Immediate important support seen at 1710 below 1710 retest of 1680 is possible during day trading. 1742 will be major resistance above 1742 gold will try to taste 1765 zones. Till gold trading above 1714 good for buyers and rise expected till 1734-40-65 but 1740-42 zones will remain strong resistance area for day trading below 1710 an intraday selling pressure can’t be ruled out.

Silver: currently trading at 32.18, trading range will remain between 30.70-33.60 areas.  Short term trend will remain down major resistance at 33.70 for this view. Immediate support seen at 31.80 till silver is trading above 31.80 looking safe for buyers and try to taste immediate resistance around 32.60 penetrations above 32.60 would confirm a rise till 33-33.60 during the day but 33.20 can act as very stiff resistance in intraday. Below 31.80 selling pressure can’t be ruled out and would signal a intraday decline till 30.50-29.60 area. 
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