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Bullion Intraday Roadmap for Dec 26, 2011


Gold :  currently trading at 1606.43 trading range will remain between 1595-1620 not much volatility expected due to festive session in US and EURO ZONE. Immediate resistance seen at 1614 break would signal intraday rally till1620-22 area. 1645 will remain key resistance for the day. Immediate support seen at 1595 break would signal short term decline till 1582-1560. 1550 will remain key support for week and day. Daily and weekly close below 1550 would signal starting of a strong down trend in gold.  Expected weekly trading range will remain between 1550-1750. Trend will remain sideways.

Silver: Currently trading at 29.048 expected trading ranges will remain between 28.70-29.75. Break below 29 would signal intraday decline till 28.80-28.75 area. 28 will remain key support for day and week break would signal down move till 26.70-26.50. Key resistance for week seen at 30.30 breakouts above said resistance would signal rally till 32-33 otherwise trend will remain down and silver will remain open for 26.70-23 for coming days. Intraday resistance seen at 29.20 breaks would signal intraday rally till 29.50-29.75 zones. 
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