Tuesday, May 22, 2012

Commodity News- MCX Gold Tips and Silver Trend For Today

MCX Gold Tips

Gold finished its last trading session at 29086 up by 0.18%. As we have suggested that mcx gold will recover from its previous down trend. Technically the mcx gold is looking to recover more, for today it can go to 29130 region firstly for a swing lower towards at 28930/850 or even lower towards 28700. But weekly break above 28190 region could give an early indication of fresh buying towards 29300/390 or even higher towards 29470.

MCX silver Tips

Silver closed at 54460 up by 0.60%. Although it has crossed the 54000 level yesterday but technically it is looking consolidate for today. 53700-53900 regions seems as a stiff downside support, which if cleared will be a signal of renewed bearishness towards 53200/52500 or more later. At the same time unexpected rise above 54700 will be an early bullish signal but a rise above 55000, prices will enter into the bull camp again.

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