Saturday, December 31, 2011

MCX SILVER TREND>>TIPS 31 December 2011

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MCX commodity market facing many ups and downs from last some days. MCX silver trend if noticed, fell sharply on domestic market, so as the MCX yellow metal gold. Today we will talk about MCX silver trend, MCX silver overall trend for today is bearish for the long term. Currently Silver is in strong downtrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend . In last few days volume based selling happened in the Silver. The Silver is now trading in oversold level. The oscillator is on SELL signal and Nickel is coming down from overbought level For short term Silver is in SELL position.

MCX Silver Levels : Silver Support and Resistance 31 Dec

Immediate support for Silver is 48368.
Resistance for the Silver is 52596-53006-54462-55013-55438-56151

MCX Silver Trend for 2 January 2012------>> SILVER IN 2012

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