MCX Bullions road map for 09 July, 2012

Gold: closed at 29621, day trading range between 29400-29840, trend will remain sideways with negative bias. Today 29600 will act as trend decider stability above 29600 will take it to 29690-29700 zones. Stability above 29700 may take it to 29790-830 zones. Key resistance will remain at 29850 stability would offer short term rise that will take it to 30130 and more upside. Stability below 29600 will take it to 29530-460 zones. Key support will remain at 29400 close below 29600 would signal 29100-29000 zones as primary supports.

Silver: closed at 53167, day trading range 53000-54500, trend sideways. Key support seen at 53000 stability would signal more weakness and silver will try to hit 52200-51300 zones. Above 52900 till silver manage to hold is likely to hit 53600-53700 zones. Stability above 53700 may trigger more bullishness and silver may hit 54000-54000 key rest will remain at 54500 close above 54500 would signal recovery from short term down trend.

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