Thursday, July 28, 2011

Silver Trading Strategy: Intraday Updates

The intraday negative trend of silver commodity may be extended if it breaks the strong downside support of 59000. If Silver breaches the same level, prices may touch 58500 initially and then 57900-57000 levels later. To negate this bearish view, prices will have to clear above 60500-700.
A choppy range bound session is expected for near term.

Below 59100 traders can Sell Silver (Sept) to target 58800-58600-500. Above 59700 Silver can be longed for the intraday targets of 60000-60200.


Posted By Commodity MCX Tips