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MCX Bullions road map for 04 July, 2012


Gold: closed at 29473, trading range 29300-29720, trend sideways with negative bias. Today trend decider level will be 29520 stability below this level will remain supportive for sellers and gold will try to hit 29420-400 zones. Key support seen at 29370-380 failure of these levels is less likely; in case of failure it will trigger more weakness. Above 29520 if manage to hold then it will try to hit 29580-620 zones. 29640 will remain key resistance for the day.

Silver: closed at 53706, day trading range will remain between 53000-54300, trend is sideways.  53700 will remain important to watch stability above this level will remain supportive for bulls but key rest seen at 53900 stability above 53900 needed for retest of 54200-400 zones. 54500 will remain key resistance for short term. Below 53700-680 it may trigger intraday weakness and silver may head towards 53450 zones. Support seen at 53400 failures will take it to 53200-53000. Key support seen at 52900 failures will trigger more weakness.  
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