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Bullion Intraday Road Map for Mar 27, 2012


Gold: currently trading at 1686.90 day trading range will remain between 1655-1710; very short term trend is up. Immediate resistance seen at 1695 consolidation above 1695 will take it to 1709-1716 zones. Intraday support at 1682 break will take it to 1670-1660 zones break below 1670 is less likely trader can look for buying opportunity on decline 1655 will remain key support for the day. Failure below 1655 less likely and this level can be a good stop loss for long trades.

Silver: currently trading at 32.74, day trading range will remain between 32-34.40. Intraday trend will remain up with high volatility. Immediate resistance placed at 33.10 sustainability above 33.10 would offer 34.30 zones as primary target for this swing. Immediate support placed at 32.50 failure below 32.50 will take it to 32.30-32 zones break below 32 is less likely entering in longs would be good idea during intraday declines. 32 and 31.50 are looking key support for short term bullish expectations.31.50 can be a good stop loss for longs taken around 32-32.30 zones for expected target around 34.30-34.40 
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