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Bullion Intraday Road Map for Mar 07, 2012


Gold: currently trading at 1677, day trading range will remain between 1640-1710, trend is down. 1665 is strong support area in gold and nicely jumped from expected support. Today we can use 1663 as potential support for rise till 1683-1690 important resistance seen at 1695 consolidation above 1695 will take it to 1714-1726 areas.  Immediate support seen at 1670 failure will take it to 1664-1656-1646 for the day.

Silver: currently trading at 32.88 day trading range will remain between 32.40-34.20, trend is down. 33.06 looking very strong resistance for the day a consolidation above 33.06 will take It to 33.50-33.85 for the day and 34.20 will remain key resistance and daily close above 34.20 would signal a short term recovery in silver. Immediate support seen at 32.68 break will take it to 32.45 consolidation below 32.40 will invite more sellers and silver my try to taste 31.80-31.40 for the day. 
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