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Bullion Intraday Road Map for May 16, 2012


Gold: currently trading at 1534 day trading range will remain between 1520-1565, trend is down and but today 1520 will play important role for gold closing below 1520 would signal more down side and it may fall till 1500-1460 in coming days recovery possible from support area of 1520-1525 for the day. Immediate resistance seen at 1540 recovery above 1540 may take it to 1548-1555 for the day but 1565 will remain key resistance for the day.

Silver: Silver trading at 27.44 day trading range will remain between 26-28.60 trend is down. Silver trading at key support of 27.30 further down side for the day only possible below 27.30 immediate resistance seen at 27.70 recovery above 27.70 will take it to 28.10-28.40 for the day but 28.60 will remain key resistance for the day. below 27.30 it will try to move towards 26.80-26.30 for the day.
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