Gold: currently trading at 1668.13 day trading range will
remain between 1630-1685, and weekly trading range expected between 1630-1760. Short
term trend is up gold is having very stiff resistance between 1672-1685 zones
immediate resistance seen at 1672 break above this resistance intraday rise
possible till 1680-85 zones further upside will confirm only above 1685 daily
closing basis that will take it to 1760-1810 in coming days. Immediate support
seen at 1665 break would signal intraday decline till 1658 break below 1658-55
zones is less likely. But failure would signal retest till 1640-45 zones. 1630
will remain key support for the week.
Silver: currently trading at 32.30 nicely shooting up after
our post of January 10, 2012. Weekly expected trading range will remain between
29.30-34; day trading range will remain between 30.30-33. Silver has broken out
important resistance that is suggesting, high volatility. 32.70-33 are very
stiff resistance and reversal zones for a pull back before further upside. Over
all this rally may extend till 35.70 but 32.70-33 are key zones to watch out
for further upside. Immediate support seen at 32.10 breaks would signal retest
of 31.70-31.60 zones for the day. 30.80 looking important support for the day.
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