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MCX Bullions road map for 20 Jun, 2012


Gold: closed at 30214, day trading range 29950-30370, trend sideways with bearish bias. Today 30270 will remain intraday trend decider above that if manage to hold then gold will try to head towards 30340-30440 zones. Above 30440 if manage to hold then it will open doors for 30600-31000 in short term. Stability below 30270 will be supportive for intraday bears and likely to taste 30120-30000. It is likely to take minor support around 29970-980 zones if manage to break that support then intraday decline till 29880-850 zones can’t be ruled out.

Silver: closed at 54465, day trading range 53600-55300, trend down. Yesterday silver was attacking key resistance of 55300 but was not able to break that level and nice decline seen from resistance area.  Today trend decider level will be 54650 stability above this level may trigger intraday recovery and silver will try to head towards 55000-55200 zones, stability above 55250-300 will take it to 55500-55900 for the day. Support seen at 54250 failures will take it to 53950-53700 zones. 53700 will remain key support on daily closing basis.  
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