We have seen some big movement in Silver (mcx) last week. This was because USD was strengthening against rupee very sharply. Therefore, Silver shown 53755 level on 17 November 2011.
Considering the current scenario market may remain choppy for few days. It can also touch 56250 ithin few days.
Also 53745 is the major support downwards if it crosses this level the we may see 52768 then 51260.
For long term investors it is not right time to long Silver futures.
Considering the current scenario market may remain choppy for few days. It can also touch 56250 ithin few days.
Also 53745 is the major support downwards if it crosses this level the we may see 52768 then 51260.
For long term investors it is not right time to long Silver futures.
Good call my friend, not only did it break 56250 today, it broke a double bottom at 55700 whose target is 57500 , i guess it will achieve the target tomorrow, as it closed near 57200 today
ReplyDelete