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Bullion Intraday Road Map for Dec 21, 2011


Gold: currently trading at 1625.85 day trading range will remain between 1580-1644. Trend will remain bullish over very short term time frame. Immediate support seen at 1617 if manage break below 1617 will open the door for 1612-1605 for intraday trading. Overall gold will remain bullish till trading above 1580 and it is likely to taste 1640-65-85 during this pullback. As we are expecting at starting of this week. 1644-45 zones can act as a reversal zone for a very short term correction that may take it to 1615-1605 zones.

Silver: currently trading at 29.54 day trading range will remain between 28.60-30.80. Immediate hurdle seen at 29.91 breaks above 29.91 would confirm rally till 30.30-30.80 for the day. Trend will remain bullish for very short term till silver trading above 28.50 and likely to taste 30.80-31.70 during this pull back. Immediate support seen at 29.25 breaks will take it to 29-28.75 for the day. 28.50 will remain key support for the day break would signal resumption to down trend and will open door for 26.70 our long awaited target for this bearish move.
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