Bullion Intraday Road Map for Dec 02, 2011

Gold: currently trading at 1740 intraday trading range will remain between 1698-1754. Trend will remain sideways till trading below 1755 and a retest of previous breakout area 1726 can’t be ruled out. Immediate resistance seen at 1746 above 1746 it will try to head towards 1753-54 are. 240 min closing above 1751 would confirm an advance and gold will open trading range for 1790 for the day. Immediate support seen at 1732 below this 1718-1698 will be next support for the day.

Silver: currently trading at 32.73 day trading range will remain between 32-33.50. Trend will remain sideways. Immediate support seen at 32.40 below this retest of 32 can’t be ruled out. 240 minute closing below 32 will confirm a short term weakness and silver may gain turned in to range bound moment between 33-31 for short term. 33.50 will remain important resistance for the day. Immediate resistance at 32.95 above this trading range will remain open for 33.50 above 33.50 it will confirm an advance till 35 and more upside.

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