Bullions road map for 13 Jun, 2012

Gold: closed at 29968, day trading range will remain 29500-30120; trend is expected to remain sideways. Intraday trend sideways, short term trend is up. Immediate resistance at 30050 stability would above 30050 will would signal intraday upside till 30150-30200 close above 30200 would signal 30400-30700 in very short term. Immediate support seen at 29820 stability needed below 29820-800 zones to confirm intraday decline till 29700 and 29600 key support will remain at 29550-500 zones.

Silver: closed at 55076, day trading range 54000-55700, short term trend is up with key support of 54300 on 2 consecutive closing basis. Today 55300 will remain key resistance to watch stability above 55300 would offer intraday rally till 55500-55700 zones. Stability above 55800 zones is less likely but rally till 56300-56700 can’t be ruled out if silver manage to hold 55800 levels during the day. Immediate support at 54730-700 zones failure may trigger intraday decline that may take it to 54500-54300 zones. 54100 will remain important to watch for the day.

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