Bullion Updates: MCX Silver Tips For Today

The prices have crossed the crucial 61000 mark which may invite some more rallies till 61500-61700 for the day. A consistent trade above the 61200 with adequate volume is required for to achieve higher levels. Below the same, Silver might face some downfall.
Traders are advised to take long positions above 61200 for the targets of 61500-61700 SL below 60890.

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MCX Bullion Updates- Gold Silver Trading Range

MCX Gold (August)
 

Prices are witnessing a range bound trades in the range of 22535-22800 from past one week. The short term moving average is rising.
The long term trend is also up. However, price momentum will only come on move above 22800 levels.

Trading Tips: Buy only above 22800 levels with a stop loss placed below 22700 levels for targets of 22950 levels.
 

MCX Silver (July) 

Prices are witnessing resistance near the 58200 mark. A sustained move above 58200 levels may see price rally to test 59500
60000 levels.

Trading Tips: Buy in the range of 58000-58200 levels with a stop loss placed below 57500 levels for targets of 59500 levels.

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