Bullion Intraday Road Map for Apr 11, 2012

Gold: currently trading at 1653 day trading range will remain between 1630-1666 trend will remain sideways till trading below 1666. Gold having very stiff resistance at 1666 stability above 16666 will take it to 1675-1685 zones for the day. Immediate support seen at 1645 failure would offer a retest to 1639-1628 zones for the day. Till gold trading below 1666 on closing basis down side expectations for 1608-1585 zones will remain valid.

Silver: currently trading at 31.51 day trading range will remain between 30.30 -32.10. Trend will remain sideways with negative bias. Strong resistance seen at 32.10 stability above 32.10 will open the doors for 32.60-33 zones. 33.20 will remain key resistance for our bearish outlook. Today silver is likely to taste 31.10 and more down side till trading below 32.10 zones. Intraday key support at 30.90 if manage to consolidate below 30.90 then 30.30-29.60 will be next destinations for silver.

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