Friday, 25 May 2012

daily technincal overview (gold) & (silver)

JUN GOLD

Resist: 1567.30-1586.50
Supprt: 1540.90-1533.90
1* Market is within proximity of this week's projected resistance range of 1588.10-1564.10, which may provide a likely zone for topping action or setbacks.

JUL SILVER

Resist: 2848.00-2912.00
Supprt: 2769.00-2757.00
1* Market is challenging a previous daily swing high and may attempt a breakout. Closing beyond 2890.00 calls for continuation rallies. A failure around 2890.00 cautions for a reactionary setback.

2* Market is within proximity of this week's projected resistance range of 2912.00-2820.00, which may provide a likely zone for topping action or setbacks.

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