Feb 03 2012 estimation

Gold

Yesterday bull run in gold market. In NYSE gold had a good session yesterday. It hit the highest point of  $1762.3, Low of 1749.5 and manages to close at 1758.40 which was above the R2. That was a good sign for much more upmove. As per my calculations i am giving the support and resistance levels..

R1:  1764.00

R2:  1769.60

S1:  1751.20

S2:  1744.00

Silver

Yesterday slight up and downs in silver market. In NYSE silver had little fluctuations yesterday. It hit the highest point of  $34.53, Low of 33.65 and manages to close at 34.36. Good rally in the end of the session but manages to close below the R2 given yesterday. Today also it is looking bullish. As per my calculations i am giving the support and resistance levels..

R1:  34.71

R2:  35.06

S1:  33.83

S2:  33.30

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