Monday, July 18, 2011

MCX Gold and Silver Updates: Trading Strategy

MCX Gold is likley to touch 23500-700 but after some intraday pull backs due to some profit booking. But if Gold fails to maintain the 23100 level, it could face some serious liquidation till 23000-22800 and even 22500 mark. 

MCX Silver if trades below 59200, it could touch downside levels like 58500-58000 but consistent trade above 59500 will make silver bullish till 60000-60300-500 levels.

Trading strategy- 
one can buy Gold at some dips (above 23100) TG- 23200-23300 
below 23000 sell Gold

Silver can be bought above 59500 for the targets- 59800-60200-500 Stoploss below 59150 


Posted By Commodity MCX Tips