Trend updated for 1st may '12. CMP-55303, it was fell by more then 1% in its last trading session. Overall trend of the Silver is bearish for medium-long term, although it has a good momentum and good trading volume in it. Currently Silver is in strong downtrend. The open interest is not increasing with trend. The oscillator is showing BUY signal For short term Silver is in HOLD SHORT position. Positionally Immediate support for Silver is 54208. Resistance for the Silver is 56207-56393-56463.
Short term and Intraday Level of SILVER
Currently silver is in area of long term. One can go long in MCX Silver. So we advised to long term traders to go long with Currently Silver market conditions. Silver is moving sideways so short term investor better to buy only above 56196 with stop at 54426.
The oscillator is showing BUY signal Intraday Trend-
Buy is advised above 56072 with a stop at 55215, Below 55070 go for sell.
