MCX SILVER TREND
Spot silver dropped sharply by 3 percent on Monday, taking cues from fall in gold prices and downside pressure in the base metals. The metal remained under pressure as economic prospects weaken. Silver
touched an intra-day low of $28.65/oz and closed below the level of $29-mark at $28.75/oz.
SILVER OUTLOOK : TIPS TODAY
We expect gold and silver to trade with a negative bias today on account of a stronger dollar. Silver will also take cues from fall in gold prices and downside in base metals.
MCX SILVER TECHNICAL LEVELS (Mar 2012)
SUPPORT :- Technical support levels for Silver are 52536/52112
RESISTANCE :- Resistance levels for silver are 53392/53824
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