May 31, 2011

MCX Gold Technical, MCX Silver, Ime Base Metals Technical Analysis 31 May

The Gold Price bias expect to trade inside the range of 22557-300 with mild negative bias. Either the side breakout would suggest fresh sustainable moves later. Read More...

R3 22879 
R2 22642/740 
R1 22539/580-600 
Pivot 22480 
S1 22401/22332 
S2 22261/210/150 
S3 22085/21990  
Trend: Consolidate
Near Term showing uptrend.

The Silver Price bias expects a rise towards 57932/58500 followed by a consolidation and a downward near term. It would be required to close above 59100 to suggest further rallies. A dip lower below 55801 may be a signal of weakness.

R3 62410/64501 
R2 58899/60150 
R1 58010 
Pivot 57460 
S1 56800/55900/ 55012 
S2 53800/53000 
S3 52300/51000


The Zinc Prices break above 102.84 for the continuation of uptrend for the day. Zinc Price may be expected show inability to hover above 102.84 may see a mild correction towards 100.15. In zinc prices broad weakness is seen and it is for a consistent trade below 98.35 levels. 

R3 108.75/110 
R2 104.12/105.89 
R1 103.50 
Pivot 102.12 
S1 99.45/98.10/97 
S2 97/95/92.50 
S3 91-90
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