March 05, 2012

MCX Silver Tips Trading Trend Silver

MCX Silver is expected to come under pressure during the week, taking cues from fall in gold prices, dollar strength and weak market sentiments. MCX Silver (May) contract is currently trading at 59185 levels and silver is expected to find support at 58,000 / 57,000 and resistance near 60,900 / 62,300. MCX Silver May contract dropped around 0.7 percent last week as sharp decline was resisted due to depreciation in the Indian Rupee. Silver is in a downtrend for today's session session and is advised to sell silver for evening session. 
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