MCX Silver Updates
Comex Silver is currently trading at $30.47 whereas MCX Silver July is currently trading at Rs. 56667, it is down by Rs. 79. Spot silver prices came under pressure on Wednesday and declined around 0.8 percent, on the back of fall in gold prices. On the other side MCX Silver suggest that prices have reversed after taking resistance at 56800 levels. RSI is in a sell mode. We expect prices to correct up to levels of 54100. Although it has a strong resistance at 57546 and a crucial support at 54055.
MCX Copper Updates
Three-month copper on the London Metal Exchange dipped $7.75 to $8,297.25 a metric ton (1.1023 tons) by 22:30 EDT (0130 GMT), after falling 1.6 percent on Wednesday- its biggest single-day decline since April 23. In MCX Copper is trading in consolidate frame between 440-448 levels, although mcx copper has a strong resistance at 449 and a crucial support level at 439. MCX Copper suggest that prices have breached the crucial support of 447. RSI is in a sell mode. We expect prices to correct up to levels of 439.
