Wednesday, June 29, 2011

Silver Update

Silver has broken it's major uptrend on 26 June 2011 on mcx. Now silver is looking more bearish, it has other major support on Rs 50000 level, it is a technical and psychological support for June future. If silver will close under 50000 level for 2-3 days, then silver will come near 42000 in few months. Silver has recorded lower volume in last 5 days in U.S. ,So next major move will appear in august contract on mcx. Next resistance level for silver is 53300 and major resistance is 53900. Trading strategy for next two days - buy silver near 50500 sl 50000(closing basis) target 51700 for current contract. for any query call 918808942638