Tuesday, November 30, 2010

sure shot mcx tips

Silver rises to as high as 27421 so far in previous sessions and the decisive break of 27000 confirms that rise from the level has resumed.

At current level, it has an immediate resistance at 27780 and thereafter a resistance at 28100. At current level, it has an immediate support at 27000 and thereafter a support at 26010.

Intraday bias remains on the upside and further rise should be seen to 27750 resistance zone next.
On the downside, below 27250 minor support will turn intraday bias neutral and bring retreat. But another rally would still be expected as long as 27000 support holds. Silver is still trading well above medium term rising trend line.

Gold and other metals surged on Friday after a slew of stronger global manufacturing data and a drop in
jobless claims in the U.S. pointed to higher commodities demand worldwide.Platinum and palladium climbed
to highs not seen since 2008. A weaker dollar was giving metals a further boost. Gold for June delivery, the
most active contract, rose $11.60, or 1%, to settle at $1,126.10 an ounce on the Comex division of the New
York Mercantile Exchange.

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