Saturday, March 5, 2011

MCX SILVER;SILVER TREND TODAY

MCX Silver continued its winning streak for the second straight day and rose by Rs 150 to a new record level of Rs 51,600 per kg today on sustained buying, triggered by firm trends overseas. Friday was the golden day for silver on the other hand gold dips yesterday.Silver coins surged Rs 300 to Rs 55,800 for buying and Rs 56,300 for selling of 100 pieces on account of the rising demand for the ongoing marriage season. 
 MCX SILVER TREND TODAY
The Silver is in perfect uptrend.The Silver is now trading in highly overbought level. The oscillator is showing SELL signal but has moved past its recent high.The oscillator is showing SELL signal For short term Silver is in HOLD LONG position.
 MCX SILVER SUPPORT & RESISTANCE
Support for the Silver is 49911-48999-47409-45565-45174-44008-. Immediate resistance for Silver is 52396.
 MCX SILVER INTRADAY TREND
Buy is advised above 52708.1 with a stop at 51050.3 Below 50567.8 go for sell with a stop at 52223.7 

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