Friday, June 8, 2012

Commodity Trend: MCX Gold & Silver Tips

In MCX Gold, A drift lower is favored towards 28850, but is unlikely to evolve into major weakness unless confirmed with successive days of close  below 28750. A push higher above 29300 would dilute intraday  
bearish sentiments but is required to close above 29500 to trigger rallies.

In Silver MCX , While above 55200 prices continues to be inside the bullish zone.  For the day, we expect an initial dips followed by  a consolidation  and edge higher. However, prices have to clear above 56000 to  invite strong rallies again. Dip lower below 54000 would be an early signal of reversal.    


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