Monday, May 14, 2012

MCX Copper and Silver Updates For Today: 15th May

MCX Copper Updates
MCX Copper is looking bearish for medium and long term trading sessions. Currently copper is swinging between 420-430 levels. Now it is showing some down move and trend is strong momentum is also showing strength and supported with good volume The open interest is not increasing with trend. The market sentiments are showing a sell signal for short term trading. In its last trading session it closed at 3 week low with a down trend. For Today we suggest to buy mcx copper above 429.6 with a stop at 422.4 and if it got below 420.6 go for sell.

MCX Silver Trend
MCX Silver has got more down trend then any other commodity. Customary selling bias may not be succeed without concrete trades below 53100 region and such failed attempts could amplify the buyers to take a toll towards 53900/54450 or even higher 54900. Break below 53000 could head out major selling pressure towards 52400/51000. We advise to make a fresh buy in mcx silver above 54293 with a stop at 53253, else below 52979 go for sell.

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