May 15, 2012

MCX Gold Silver Trend for Today

MCX Gold prices hold support at 28250 on breach below the given level, we expect prices to test longterm Support at 27950 - 28000 while resistance holds at 27500. Gold is trading in a downtrend for today and is recommended to sell for today session. The other commodity metals are also in a downtrend as base metals are trading in a lower trend and same is with the bullion silver.

Today selling in commodity market is recommended as the market is trading in a downtrend. Gold prices are holding the upward sloping trend line support at 28200 any sustained move below 28200 can witness a sell off to the tune of 27900 - 27800.


MCX Gold (June) is advised to sell below 28230 with a target of 28150 and stop loss 28270.

MCX Silver (July) is advised to Sell below 53600 with a target of 53200 and stop loss of 53760.  
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