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MCX Bullions road map for 05 July, 2012


Gold: closed at 29571, trading range 29400-29800, trend will remain sideways with bullish bias. Today 29550 will play important role. Stability above 29550 will take it to 29620-750 zones. 29800 will remain key resistance stability above 29800 will trigger recovery for short term, and gold will try to resume uptrend. Immediate support seen at 29550 failures may take it to 29470-430 zones. 29380-370 zones will remain key support for short term.

Silver: closed at 53731, trading range 53000-55000, trend is sideways with bullish bias. Today 53700 will play important role stability above 53700 will take it to 53900-54200 stability above 54300 may take it to 54500-54900 daily close above 54500 may trigger recovery from short term down trend.  Failure below 53700 will take it to 53500-450 zones but 53400 will remain important to watch failure may take it to 53000-52900 for the day.  
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