Tuesday, June 5, 2012

MCX Live: Gold Silver Tips For Today

MCX Gold Tips

The Gold is in perfect uptrend. Currently Gold is in strong uptrend and the trend is supported with good volume. The open interest is not increasing with trend. Prices approaching the psychological level of 30000-30030 region, which is likely to act as a hurdle for bullish expectation and such abortive move could find support at 29820-29710 or even lower towards 29630. Any how solid moves above 30050 region could be an early sign of major rally towards 30170/350 or even higher.

Intraday Trend- We suggest to buy MCX Gold above 30150 with a stop loss at 29826, below 29702 go for sell and put stop at 30195.

MCX Silver Tips

Overall trend of the Silver is bearish for medium-long term. For Intraday trading silver is looking consolidate today. Currently Silver is moving sideways The market sentiments are showing SELL signal in silver. If pullbacks do not extend much beyond 54800-55000 region, expect the over weak sentiments to continue towards 53700. However, a direct dip below 53350 would be required to trigger strong sell off again. Rallies above 55000 could target 55700/56600.

Intraday Trend- We advised for intraday better to buy above 56080 and Sell if below 52410.

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