Saturday, 7 September 2013

SILVER UPDATES

silverupdates MCX Silver December as seen in the weekly chart above has opened the week at 55,188 levels initially moved sharply higher
but found very good resistance at 59,598 levels. Later prices fell sharply towards 53,351 levels and finally closed lower from
the previous weeks closing levels.
For the next week we expect silver prices to find Resistance in the range of 55,900 – 56,000 levels. Trading consistently
above 56,150 levels would lead towards the strong Resistance at 58,490 levels and then finally towards the major
Resistance at 62,170 levels.
Support is now observed in the range of 52,400-52,300 levels. Trading consistently below 52,200 levels would lead towards
the strong support at 49,740 levels, and then finally towards the Major support at 48,427 levels.
MCX / Spot Silver Trading levels for the week
Trend: Down
S1-52,400 / $ 23.04 R1-55,950 / $ 24.54
S2-49,740 / $ 22.26 R2-58,490 / $25.26
Weekly Recommendation: Sell MCX Silver December between 55,900-56,000, SL-57,401, Target -52,400
silverupdates,mcxtips

2 comments:

  1. SILVER (5 MAR.) TREND: BEARISH
    RES 1: 45400
    RES 2: 45800
    SUPP 1: 44500
    SUPP 2: 44100
    STRATEGY: SELL ON HIGH
    free intraday tips for today

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  2. NICKEL (31 OCT.) TREND: CONSOLIDATE
    RES 1: 1022.00
    RES 2: 1035.00
    SUPP 1: 1005.00
    SUPP 2: 995.00
    STRATEGY: SELL ON HIGH

    Commodity tips

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