Tuesday, June 19, 2012

Intraday Silver Tips || Best MCX Blog

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The white metal touched an intra-day low of $28.25/oz and closed at $28.70/oz yesterday. On the MCX, Silver July contract increased by 0.7 percent on account of depreciation in the Indian Rupee and closed at Rs.54,923/kg in yesterday’s trading session

MCX Commodity Outlook

In today’s session, we expect precious metals to trade with a negative bias on the back of rise in risk aversion in the global markets coupled with strength in the DX. On the MCX, depreciation in the Indian Rupee will prevent further fall in prices.

Silver Support and Resistance

MCX Silver Support and Resistance :- Support :- 54400/53900, Resistance :- 55200/55500

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