MCX SILVER WEEKLY REPORT 25th Oct to 30th Oct.

Posted by Bhupendra Adhav on Saturday, October 23, 2010


Technical Analysis MCX SILVER
Weekly Chart


Weekly Pivots

SCRIPT         R4        R3        R2        R1        P         S1        S2          S3        S4  
SILVER      2851    2684    2516    2414   2349   2246    2181    2014    1846  


Market Overview

COMEX Silver is in a bullish phase. Last week COMEX Silver does not sustained near to its high. For the upcoming week 2225$ and 2160$ are the crucial supports and 2500$ and 2580$ are crucial resistance in COMEX Silver. In MCX Silver 36000 and 37000 will act as major resistance and 34550 and 33400 will act as major supports.

Strategy

For the next week traders can use buy on lower level strategy if Silver sustains above the level of 2270$ an ounce, then above 2370$ an ounce it can further go upward and might test the level of 2410$. Trade by keeping the proper stop losses. 

MCX Tips for Today

Here we daily post MCX Tips for Today for Bullion Commodity Gold Silver, Energy Crude Oil and Natural Gas and Base Metals - Copper, Zinc, Aluminum, Lead and Nickel Tips trend and trading levels for today.
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Base Metals
MCX Energy
Bullion - MCX
Agri Tips