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Bullion Intraday Road Map for Feb 13, 2012


Gold: currently trading at 1728, weekly trading range will remain between 1640-1805 with positive bias. Day trading range will remain between 1710-1755 with sideways momentum. Immediate resistance seen at 1736 consolidation above 1736 would signal intraday incline till key resistance level of 1755 for the day. Immediate support seen at 1720 failure would signal failure in intraday swing and it will try to taste 1712-1705 zones during the day. 1702 will remain key support failure would confirm 1686-1668 zones for this corrective phase.

Silver: currently trading at 33.77, weekly trading range will remain between 31.30-35.70 with positive bias. Intraday trading range will remain between 32.90-34.50 trend will remain sideways for the day. Immediate resistance seen at 34.07 if manage to hold above 34.07 then retest to 34.40-34.50 zones can’t be ruled out but for further upside we need consolidation above 34.50 zones that will open trading range for 35.20-35.70 in very short term. 35.70 will remain key resistance for this bull move. Immediate support seen at 33.68 break will take it to 33.30 zones but key support for the day will remain at 32.90 further down side till 31.50 would confirm below 32.90 otherwise consolidation expected between 32.90-34.40 with positive bias for the week.
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