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MCX Bullions road map for 19 Jun, 2012


Gold: closed at 30311, day trading range 30050-30580, trend is up.  Yesterday gold closed above its key resistance of 30200 supporting bullish outlook that may take it to 30600-30700 during this move. Immediate support seen at 30240 failures may take it to 30200-190 zones but 30190 will be trend decider stability below 30190 will supply more weakness and it may try to taste 30100-29950 during the day. Above 30190 trend will remain up and gold is likely to hit 30440-550 zones. During the day.

Silver: closed at 54923, day trading range 54200-55500, trend is up. Yesterday silver made low 54253 as day low but was not able to hold below key support of 54300 as I have written in my previous post. Immediate support seen at 54700 stability below 54700 may trigger more weakness and it may try to taste 54450 zones for the day but 54300 will remain important in intraday and 53700 on daily chart.  Stability above 54900 will be supportive for bulls and silver will try to head towards 55200-55500 zones for the day. 
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