Bullion Intraday Road Map for Mar 22, 2012

Gold : currently trading at 1649, day trading range will remain between 1630-1685, trend will remain sideways with negative bias. Immediate resistance at 1658 consolidation above 1658 will take it to 1668-1670 zones. 1685 will remain key resistance for day, gold must sustain above 1685 to establish a bullish move. Immediate support seen at 1638 consolidation below 1638 would offer 1628-1617 zones as primary supports.

Silver: currently trading at 32.08 day trading range will remain between 31.50-33.10 trend is sideways with negative bias. Silver is likely to taste 31.60-31 zones during current move but consolidation above 32.50 zones can negate these bears expectations and silver may move towards primary resistance 33.10 and 33.80 till trading below 33 expected supports are 31.50-30.30

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