Bullion Intraday Road Map for Jan 25, 2012

Gold: currently trading at 1664.89, trend sideways, trading range will remain between 1640-1685. Gold was not able to cross resistance area and nice selling pressure seen as written yesterday. Immediate support seen at 1660 break would signal intraday down side that may take it to 1645 failure below 1640 area will take it to 1625-1620 zones. Immediate resistance seen at 1672 above 1672 retest of 1677-80 range is possible. Key resistance seen at 1685further upside for this swing is possible only that area otherwise we are expecting a correction till 1645-1625 zones.

Silver: currently trading at 32.15, trend will remain sideways with positive bios; day trading range will remain between 30.70-33. Immediate support seen at 31.70 breach of this support would signal a 31-30.80 for the day. Immediate resistance seen at 32.50 a breakout above this level will take it to 32.75-32.80 zones. But major resistance at 32.80 if manage to hold above 32.80 then intraday rally till 33.50-33.80 can’t be ruled out.

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