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Bullion Intraday Road Map for Jan 27, 2012


Gold: currently trading at 1720, day trading range will remain between 1700-1760 trends up having immediate support at 1711 break would signal retest to 1702-1700 zones. Break below 1700 is less likely but fall till 1685-1680 zones can’t be ruled out if manage to break 1700. Immediate resistance seen at 1731 break would signal intraday rally till 1755-1760 over all this really is open for 1800 but very short term reversal expected from 1760-1767 zones.

Silver: currently trading at 33.55 day trading range will remain between 32.20-34.50; trend is up and likely to taste 35-35.70 during this rally. Immediate support seen at 33.18 breaks below 33.18 will take it to 32.80-32.50 zones. Key support for the day is 32.20 breaks below this level trend failure possible. Immediate major resistance at 33.80 if manage to hold above this level then intraday levels are 34.10-34.40 for the day, but major targets for this swing are 35-35.70. 
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