Monday, April 16, 2012

MCX Silver Copper Commodity Tips and Outlook For Today

After constant decline for some weeks, few buying was seen and it made a high of 57397 and closes at t nearly to 55912. For this week, consider reliable trade above 57310 will be required to push prices higher level up to 58300 +. On the whole, it continue struggle with 50 and 200 DMA and placed at 56770-57898 respectively. Trend decider of this week - 56248 and key level 56843.

For the last few weeks, after facing a tremendous resistance at 444.78 and not able to cross, it finally broke down strong support level 429.43 and made a low of 412.56. As long as trades below 429.87-432.56, bearishness to continue and lower level target 406-399-389.67 in the near term. Trend decider of this week – 420.67 and key level 439.56.

The whole small trading range for the last two weeks, which is placed at 5356 to 5200. For this week consider support range of 5260-5278, bears may push prices below this price again, a higher side resistance at 5395-5457 to watch out. Trend decider of this week – 5285.78, key level 5219. Sell on rise approach.

In the previous week it rallied from the low of 924.67 and lastly made a high of 957.73, which is a near-term hurdle. On the other hand, downside strong support range 921.45-934.79 and buying in small lots is advisable. Higher-level resistance at 966-969.17... Trend decider of this week – 944.68, key level 930.78.

Sell on rise strategy is a finest way as long as continues to trade below 111.56 ranges. In last week, bulls failed to move 111.45-116.78 range and made a low of 101.40, which is nearly a strong support 101.56 mark. Weekly close below 101, more open short side. Trading in all time low.

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