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MCX Bullions road map for 18 Jun, 2012


Gold: closed at 30154 on Saturday, day trading range is expected to remain between 29800-30300, trend will remain sideways. Gold having strong support at 30050 stability below 30050 would offer 29900-850 as target areas for short sellers. 29700 is expected to remain strong support for short term daily close below this 29700 will offer 29550-29100 as target areas in gold for very short term. Key resistance will remain at 30200 minimum 2 consecutive close needed above this level to for rally till 30700-31200 zones.

Silver: closed at 54553, day trading is expected to remain between 53100-55100, trend is sideways.  Having strong resistance at 55000-55100 zones stability above these levels may trigger intraday bullishness and silver may try  to head 55400-55700 and more upside. Key support will remain at 54300 stability below this level will trigger intraday bearishness and silver will try to head 53800-53500 zones. key support will remain at 53700 on daily closing basis. 
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