MCX Silver For Monday

Posted by Naresh Tomar on Saturday, September 17, 2011

Silver Weekly Report  :-  COMEX Silver is in a consolidation phase. Last week COMEX Silver was trading on lower side for most part of week, but on last day of trading session it bounced back. For the upcoming week 3850 $ and 3700$ are the crucial supports and 4350$ and 4550$ are crucial resistance in COMEX Silver. In MCX Silver 68000 and 70000 will act as major resistance and 60000 and 58000 will act as major supports.

Technically COMEX Silver is consolidating on charts. For the next week traders can use buy on lower level strategy if Silver sustains above the level of 4000$ an ounce, then above 4140$ COMEX Silver can test the level of 4200/4260 an ounce and above 4400$ it can move further upwards and test the level of 4550/4590$ an ounce. And in MCX Silver sustains above 63500 above it can test the level of 65700/66300/67000 and above 67500 it can test the level of 70500. Trade by keeping the proper stop losses. 

MCX Tips for Today

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