August 22, 2011

MCX India News 22 Aug | MCX Live 22 Aug

MCX Gold price has seen a strong breakout from the rising channel formation of 2000pts and the breakout above 24500 levels has seen an immediate rally to complete the price targets of 26500 levels. Then after a short pullback mcx gold noticed another breakout which is now witnessing strong momentum and this rally is likely to seen near 28510 levels. 
MCX Silver price chart suggests that prices have witnessed a strong momentum breakout above 63010 levels and is now heading higher to test the next resistance placed at 70000 levels. The daily RSI is showing strength in the rally. It is recommend to buy mcx silver in the range of 65010-65810 levels with a stop loss placed below 64000 for targets of 70000 levels in the short term.

MCX Market Levels:
MCX Gold - Buy is advised above 28253.8 with a stop at 27777 and below 27656 go for sell with a stop at 28132. 
MCX Silver - Buy is advised above 67723.4 with a stop at 65467 and below 64804 go for sell with a stop at 670585 
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