Monday, November 05, 2012
MCX Gold Silver Tips and Trend
MCX Gold December opened at 31,024 levels last week and moved marginally higher and found good resistance at 31,159 levels and later MCX Gold prices breaking both the supports towards 30,366 levels and finally closed lower.(GOLD TIPS AND TREND). Experts believes that this week MCX Gold prices are going to find support at 30,180 and 30,150 levels and trading consistently below 30,140 levels would lead to sharp correction towards 30,080 and then 29,880 and finally major support at 29,635 levels.
Resistance can be observed in range of 30,670 and 30,700 levels and after that strong resistance is sen at 30980 and 31000 levels.
MCX Silver December last week opened at 59,650 levels and initially took good moved but found resistance at 60,333 levels. (SILVER TIPS AND TREND). Experts believes that this week MCX Silver is going to find support in range of 56,620 and 56,570 levels and resistance is observed in range of 58,450 and 58,500 levels. Trading consistently above 58,500 levels would lead towards strong resistance at 59,924 levels and then major resistance at 61,400 levels.
S1-30,180, R1-30,670, S2-29,880, R2-31,000
S1-56,620, R1-58,450, S2-55,500, R2-59,500
Buy MCX Gold December between 30,080-30,060, SL-29,870, Target -30,470/30,650.
Sell MCX Silver December between 58,400-58,500, SL-59,501, Target -56,700/56,200.