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MCX Bullions road map for 10 July, 2012


Gold: closed at 29657, trading range 29550-29850, trend sideways. 29630 will remain important to watch stability below this level would signal intraday weakness and gold will try to head towards 29570-29520. Key support will remain at 29400 for short term failure would signal decline till 29100-29000 zones. Immediate resistance seen at 29700 stability above 29700 will take it to 29745-800 zones. 29850 will remain key resistance for short term.

Silver: closed at 53544, trading range 52900-54500, trend sideways with bullish bias. 53400 will act as trend immediate resistance seen at 53610 stability above 53610 will take it to 53900-54000-54300. Key resistance will remain at 54500 stability above 54500 would signal recovery from short term down trend.  Below 53400 it will try to taste 53250-53000 zones. key support will remain at 52900 failure will take It to 52500-52200. 
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