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Bullion Intraday Road Map for Feb 10, 2012


Gold: currently trading at 1731.06, trend down, day trading range will remain between 1704-1755. Immediate support at 1724 break would take it to 1717-1711-1705 for the day. Immediate resistance placed at 1736 a breach of this level would signal intraday rally till 1741-1751 and 1763 would remain key resistance for the day. Consolidation above 1763 would for 1795-1805 as primary targets otherwise it is likely to correct till 1706-1686 zones till not manage to close above 1763.

Silver: currently trading at 33.85 day trading range will remain between 32.90-34.40, trend is down. Immediate resistance placed at 34.05 breaks above 34.05 would signal intraday consolidation between ranges of 33.80-34.40, till trading below 34.05 it is likely to taste 33.60-33.20 for the day 32.90 will remain key support and failure below 32.90 would signal short term bearishness in silver. Key resistance will remain at 34.60 for the day consolidation above 34.60 would signal resumption to bullish move and 35.20-35.70 will be next destination for silver.
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