GOLD AND SILVER TECHNICALS AND TRENDZ 22 JULY 2011 FROM BUSINESS DESK CHIEFSWORLD : L& TFINACE IPO OPENS 27 JULY 2011

[*l*l*CHIEF*l*l* CHIEF]

Gold - Short term weakness is expected into the remainder of July.
While price remains below 1610, downside support zone can be found in
between 1555 and 1562 initially. If a low does occur in the last week
of the month, another ST bounce toward Aug 8th is possible. From this
high, a final major low may occur around a strong fibo turn date 8/18,
+/- 1 day. If my view is correct the 8/18 low should end this
corrective phase and usher on the expected wave 5 blow-off.

Silver - still appears to be working on a wave (iv) irregular
correction. If a neckline of a small HnS is tripped near 38.50, a drop
could target strong ST support at 36ish. The anticipated continuation
of the impulsive structure depicted in my last chart, should see
another strong spike higher to challenge 43+.

L&T Finance Holdings Ltd IPO ISSUE OPEND ON JULY 27 2011 , DONT MISS
IT TO APPLY PRICE BAND LIKELY TO BE BETWEEN RS 51-59,Issue Size 1245
CR, MORE DETIAL OF IPO ON CHIEFSFORUM