Thursday, July 14, 2011

Silver Updates : Trend Today

Like we mentioned on our earlier post that a move above 55000 will be required for a broad uptrend in MCX Silver. The same happened today and silver made a handsome gain of more than 5% after breaking the crucial 56000 level.
Now initially silver may fall due to some profit booking but soon it will recover and if it manages to trade above 56500 mark, Silver may touch 57000-57300 level for the day.
While 55900-850 will act as major support level for the downside. A trade below the same may drag silver to 55400-55000 levels.


Posted By Commodity MCX Tips