MCX Bullions road map for 06 July, 2012

Gold: closed at 29746, trading range 29580-29980, very short term trend up. Today 29700 will remain trend decider stability above 29700 will be supportive for bulls and it will try to hit 29790-830 zones. Stability above 29860 will take it more upside and it may try to hit 29960 zones for the day. Below 29700 if manage to hold then fall expected till 29650-600 zones. 29580 will remain key support failure may neglect our bullish expectations; otherwise trend will remain up for targeting 29950-30100.

Silver: closed at 53674, day trading range will remain between 53000-55000, trend is sideways. Today important level to watch in silver is 53850 stability above 53850 will support bulls and metal will try to head towards 54230-54800 but 54500 may act as strong resistance zones. Below 53850 bears will remain aggressive and metal will try to head 53450-53050. Key support for the day is 53350 and key resistance is 54500.

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