Saturday, July 9, 2011
Commodity Support and Resistance For 11 July 2011
STRATEGY For Silver
Technically COMEX Silver is weak on charts. For the next week traders can use sell on higher level strategy if Silver sustains below the level of 3800$ an ounce, then below 3600$ an ounce it can go down and can test the level of 3510$ an ounce. Trade by keeping the proper stop losses.
STRATEGY For Gold
Major support for COMEX Gold in the coming week is 1480$ and 1425$.
Major resistance for COMEX Gold in the coming week is 1560$ and 1590$
Major support in MCX Gold is 21500 and 21100
Major resistance in MCX Gold is 22500 and 22800