Bullion Road map for Nov 18, 2011

Gold: yesterday huge selling seen in gold as per our expectations. Currently trading at 1725 after making a low of 1710.46. Trading range will remain between 1680-1750. After yesterday sharp fall today we can see a rebound in market and gold may taste upper band of today trading range overall 1770 will remain key resistance for short term selling on rise can be good idea because technically 1705-1695 range is still due as per our expectations.

Silver: yesterday nice selling pressure seen as per our mapped trend and silver made low 30.95 where we were expecting 30.50 as my 1^st target. Currently trading at 31.48 day trading range will remain between 30.50-32. Sideways moment expected for the day some jump can’t be ruled out during day trading because its reached in over sold zone on very short term intraday charts technically trend is down yesterday it has formed rising wedge breakout that is the sign of resumption in previous down trend silver expected targets are 28.70-26.60 in coming days. But a short term rise can’t be ruled out from current levels selling on rise will be good idea.

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