April 20, 2012

MCX Gold - MCX Silver Trend Tips

MCX Gold June is currently at 28672, it is trading up by 25 points for the day. MCX Silver May is currently trading at 56615, it is up by 39. All base metals are trading on a positive note today. Early attempts to a rise would be capped near 57000-57200 region, but may not call for steep fall as long as prices hold the recent swing support of 55500. A direct dip below 55300 would be an early signal of renewed selling pressure. MCX gold is in a positive bias that we are witnessing likely to persist with an target of 28560 region firstly then to 28670 / 800. Even in this prospective approach, break below 28350 region may dilute our bullish expectation.

MCX Gold Silver Tips Trend:

MCX Gold (June) is advised to Sell below 28650, Stop loss 28750, Target 28500.
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