Wednesday, 30 May 2012

JUN GOLD

Resist: 1559.00-1568.20
Supprt: 1532.50-1525.80
1* Note that yesterday's outside bear day favors declines into the next 1-3 days. Corrections inside the outside range should stay under 1569.00 to promote follow-through action. A reluctance to trade under 1545.50 or a close over 1569.00 by the second day increases the chance for full reversal of the outside day.

2* Market is within proximity of this week's projected resistance range of 1579.30-1555.50, which may provide a likely zone for topping action or setbacks.


JUL SILVER

Resist: 2810.00-2835.00
Supprt: 2729.00-2715.00
1* Note that yesterday's outside bear day favors declines into the next 1-3 days. Corrections inside the outside range should stay under 2835.00 to promote follow-through action. A reluctance to trade under 2770.00 or a close over 2835.00 by the second day increases the chance for full reversal of the outside day.

2* Market is within proximity of this week's projected resistance range of 2877.00-2784.00, which may provide a likely zone for topping action or setbacks.

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