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Bullion Intraday Road Map for Feb 28, 2012


Gold: currently trading at 1768.58 day trading range will remain between 1740-1805 intraday trend will remain sideways. Gold is trading above its critical resistance of 1763 that has become support now. Till gold trading above 1760 zones looking good and likely to taste 1796-1805 during this swing. Failure below 1760 may take it to 1752 zones. 1740 will remain key support on intraday basis. But failure below 1760 is also very less likely.

Silver: currently trading at 35.40 day trading range will remain between 34-36.20; intraday trend will remain sideways with negative bias. Silver is moving in a range between 35-35.70. healthy closing above 35.70 would signal 36.20 and more upside for the day. Immediate support placed at 35 failures below 35 will take it to 34.60-34.40 area. But 34 will remain key support for the day. 
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