WEEKLY COMMODITY SILVER REPORT 18th Oct 2010 to 23rd Oct 2010

Posted by Bhupendra Adhav on Monday, October 18, 2010

Technical Analysis SILVER
Weekly Chart


Weekly Pivots

SCRIPT       R4        R3         R2        R1       P            S1        S2         S3       S4
SILVER    3007    2807       2606    2517    2406       2317    2205     2005   1804  


Market Overview

COMEX Silver is in a bullish phase. Last week COMEX Silver sustained above the level of 2350$ an ounce. For the upcoming week 2285$ and 2160$ are the crucial supports and 2500$ and 2580$ are crucial resistance in COMEX Silver. In MCX Silver 37000 and 38800 will act as major resistance and 34900 and 33500 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 2350$ an ounce, then above 2500$ an ounce it can further go upward and might test the level of 2550$. 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