Gold: currently trading at 1755.70, yesterday it has been
done our 1st long awaited target of 1760, day trading range will remain between
1700-1810, trend is up and this wing is open for 1772-1785-1805 zones. Trading
in overbought territory on daily charts so a short term reversal can’t be ruled
out any time that will take it to 1700-1680 zones. immediate support seen at
1749 break would signal retest of 1740 zones if manage to break and hold below 1738
zones then sharp selling can’t be ruled out. 1762 will remain immediate
resistance further upside till said resistance zones are only possible above that
level.
Silver: currently trading at 34.15, yesterday silver has
broken its very short term resistance of 34 and nicely close above that level
and opened door for 35.20-35.70 in short term. Intraday trading range will
remain between 33.40-35.20 trend is up and trading in overbought territory so
reversal is likely from resistance area of 35.20-35.80 zones. Immediate
resistance seen at 34.35 breakouts above that level would attract more buyers
for intraday, immediate support placed at 34.05 breaks would take it to 33.70-33.60
zones. and 33.40 will remain key support for the day below 33.40 failure of
this swing possible and silver is likely to taste 32.90-32.60-32 zones.
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