Commodity Tips: Silver Weekly Recommendation

Silver is in Consolidated form so a best strategy to gain in intraday is sell on higher levels. In this week if Silver manages to sustain below 62500 and do not break the upside level of 64500 then it can test 60500-59500 level.

But if Silver breaks 64500 mark then above 65000 it may touch 66000-67500 level.

Traders can take their positions accordingly.

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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.

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MCX Silver Updates: Evening Report

Silver prices are heading towards 59000 mark and If prices moves above 59200 mark, more upside levels may be seen till 59500-59800 for the day. In broad perspective 60800 will act as crucial resistance to see the rally. Below 57900 silver is looking bearish.

For intraday Traders can buy silver above 59100 for the targets of 59400-700 Stoploss- 58800.

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MCX Silver Trend Today 6 July 2011

Silver on Tuesday saw a great upside momentum and could able to see a rally of more than 3%. To prevail this strong up trend Silver will have to consistently trade above 53350. A trade with volume above the same would take Silver to the levels like 53900-54700 and even 56000 later. But if it does not sustain above 53000, it may negate the bullish view of silver commodity.

Intraday traders can buy silver above 53500 for the targets of 53700-53900-54200 keeping a stop-loss below 53100

while below 52950 go for sell in silver with targets -52600-500

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Silver Trend Today- Trading Tips For evening Session

Silver MCX July Contract is trading with positive Bias and likely to tick 53800-54200 initially. If Silver Manages to Close above the crucial level of 54200, more upside may be seen towards 54500-55000. A direct fall below 52800 would cause a drift lower towards 52100-51800 in silver.

For Intraday Traders can buy Silver around 53400 for the targets of 53800-54000-54200 Stoploss- 52950.

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Silver Updates- Trading Strategy For Coming Week

Market Overview
COMEX Silver is technically weak on charts. Last week COMEX Silver c neither sustain on higher level nor at lower level. For the upcoming week 3200$ and 3000$ are the crucial supports and 4000$ and 4250 $ are crucial resistance in COMEX Silver. In MCX Silver 61000 and 64000 will act as major resistance and 49000 and 46000 will act as major supports.
 

Strategy
Technically COMEX Silver is weak on charts, For the next week traders can use buy on lower level strategy if Silver sustains above the level of 3200$ an ounce, then above 3700$ an ounce it can further go upward and can test the level of 3850$ an ounce. Trade by keeping the proper stop losses.

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MCX Silver Updates

Silver prices rose by 783 rupees to 55649 rupees per kg in futures trading on sustained buying by speculators in line with strong global trend.

Silver futures erased the early losses, retreating from the lowest level in almost seven days after disappointing U.S. economic data and amid lingering fears over the euro zone’s sovereign debt crisis.

The prospect of tightening monetary policy is casting a shadow over the bullion outlook. Bullion tends to benefit from low real interest rates, as they reduce the opportunity cost of holding non-interest bearing bullion.

Today, MCX Silver future expected to move up to 56500 rupees on continuous buying sentiment from international market.

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Bullion Updates- Gold Silver Calls for Today Evening

Buy Gold Futures April around 20680-700 Target-20800-20850 SL-20570

Buy Silver Futures May around 55100 TG-55200-275-375 SL-54850

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