Bullion Road map for Nov 22, 2011

Gold: currently trading at 1687.54 trading range will remain between 1640-1740. Immediate support seen at 1675 current swing may take it to 1697-1710 area a breakout above 1715 would signal an advance till 1738-42. A breach of intraday immediate support of 1675 would signal a intraday downward move till 1668-66 and a break below this important level would take it to 1640-1620 area for the day. As per current scenario we will suggest traders to buy around 1680-82 are with stop loss below 1675 for targeting around 1697-1710 during the day. Intraday selling may appear near resistance area 1710-15 zones. Short sellers can use 1715 as stop loss if want to create shorts near resistance area of 1710-15 zones.

Silver: currently trading at 31.47as per daily chart trend will remain weak and silver may taste 26.70 during this weakness. But silver is still holding our 1^st expected support of 30.50. As written in my blog post on November 17, 2011. Day trading range will remain between 30.50-32.60, immediate support seen at 31.30 breaks below 31.30 would signal a partial decline till 30.80. But 30.80 is looking a good support, failure below 30.80 would take it more down side till 30.50-30 are for the day. Respect of 30.80 would signal intraday advance till 32-32.60.

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