Gold & silver daily levels - aravinthrajm

#31
SPOT GOLD LEVELS FOR 10.06.2009

966 above 970-977-979.
(Strong Res-979)

954 below 948-946-942-940-933-928
(Strong Supp-946, 942, 928)


Gold broke crucial support of $942 and managed to close above that. Any move beyond $966 would make Gold to move further till $980 levels. Only a close below $946 would prove weakness to Gold as it would enter consolidation phase between $946-$908. Possible selling would come at $980 & $1003 levels where caution is advised.


SPOT SILVER LEVELS FOR 10.06.2009

15.51 above 15.66-15.96.
(Strong Res-15.96)

15.11 below 14.94-14.89-14.79-14.55-14.52
(Strong Supp-14.94, 14.79, 14.52)


Silver is witnessing a bounce back after a sell off. Though it is holding $14.94 which is a crucial support for Silver we need to apply caution. Any fall to $14.52 could be used to Buy for intraday and a bounce back could happen from that levels. On the higher side if Silver closes above $15.51 then we could see some more upsides this week till $16-$16.25.
 
#32
SPOT GOLD LEVELS FOR 12.06.2009

966 above 973-979-983-991

946 below 942-935-928-917


Second day on the row Gold was struggling to find a direction for itself to rest. It did not break either side of our band and was range bound with volatility. It has to close above $966 for further up move or close below $946 to retest $908. Traders are cautioned not to get stuck between this band of $966-$946 till this week close.


SPOT SILVER LEVELS FOR 12.06.2009

15.51 above 15.62-15.85-15.96

15.29 below 15.05-14.94-14.79-14.72-14.52


Silver was in sync with Gold and was struggling to find a direction and made a huge see-saw intraday leaving traders to suffer the Stoplosses both the sides. Any close above $15.51 is considered as Bullish and a close below $14.94 is considered as Bearish for the short term. These levels hold good till this week close.
 

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