Wednesday, February 16, 2011

MCX Silver Updates- Short term Recommendations

MCX Silver February contract has been on continues buying mode since last two weeks. It tested high of 46683 during the week. MCX Silver future prices remained above 13 days exponential moving average. Buying seen continued in Silver at 45600-45900 levels.

MCX Silver February contract opened at 46421 per Kg. It tested intraday high of 46580 and last traded at 46452. The contract faces resistance near 46750 while its support is seen near 45200.

MCX Silver Tips -

Short term traders can buy MCX Silver February contract near 45900 with stop loss of 45400 and can wait for target of 46700.


Posted By Commodity MCX Tips