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MCX Bullions road map for 21 Jun, 2012


Gold: closed at 30289, day trading range between 30090-30400, trend sideways.  Today 30200 will be trend decider level for gold , stability below 30200 will take it to 30160-30090-30000 key support will remain at 29950 failure would signal short term correction in gold that may take it to 29700 and more down side. Stability above 30200 will support intraday bulls and it will try to hit 30340-400 zones in intraday key resistance will remain 30500.

Silver: closed at 54570, day trading range will remain between 53300-55500, trend is down. Yesterday silver made low of 53813 and nicely jumped as we were expecting 53800-53700 zones as strong support zones. today trend decider level will be 54450 stability above this will take it to 54650-54900 zones. 55000 will be key resistance for intraday  and 55300 will be key resistance on closing basis. Below 54450 bears will remain aggressive and silver will try to head towards 54270-53850. Intraday key support will remain at 53800 stability below this level may take it to 53500-53300. Key support will remain at 53700 on daily close basis for big correction. 

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