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Saturday, September 10, 2011

Gold and Silver Weekly Technical report 12 Sepy To 17 Sept 2011

MARKET OVERVIEW
COMEX Gold
is in an upward phase. Last week COMEX Gold was neither sustained on higher levels nor at lower levels. In the coming week 1750$ will act as a major support in COMEX Gold and 1920$ will act as a major resistance.
STRATEGY
Strategy For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1800 $ an ounce, then above 1890$ it can test the level of 1912/1940$ an ounce and above 1950$ it can further move upward. And in MCX Gold above 28400 it can test the level of 28600/28750/28900 and Below 27550 in MCX it can test the level of 27350/27060/26900. Trade by keeping the strict stop losses. Major support for COMEX Gold in the coming week is 1750$ and 1680$. Major resistance for COMEX Gold in the coming week is 1950$ and 1995$
Major support in MCX Gold is 26500 and 25200
Major resistance in MCX Gold is 28700 and 29000
MARKET OVERVIEW

COMEX Silver is in a consolidation phase. Last week COMEX Silver was trading on higher side for part of week, but on last day of trading session profit booking has seen. For the upcoming week 3850 $ and 3700$ are the crucial supports and 4350$ and 4550$ are crucial resistance in COMEX Silver.
 In MCX Silver 68000 and 70000 will act as major resistance and 60000 and 58000 will act as major
STRATEGY
Technically COMEX Silver is consolidating on charts. For the next week traders can use buy on lower level strategy if Silver sustains above the level of 4000$ an ounce, then above 4360$ COMEX Silver can test the level of 4420/4490an ounce and above 4500$ it can move further upwards and test the level of 4550/4590$ an ounce. And in MCX Silver sustains above 62000 above it can test the level of 66500/67500/68500 and above 69000 it can test the level of 70500. Trade by keeping the proper stop losses.

MCX Bullion Weekly Report For 12 Sept To 17 Sept 2011

GOLD FUTURES RALLY AS WORLD ECONOMY, DEBT CONCERNS SPUR DEMAND FOR A HAVEN.
CRUDE OIL DROPS MOST IN A WEEK AS EURO TUMBLES ON EUROPEAN DEBT CRISIS.
COPPER TUMBLES MOST IN A MONTH AS OBAMA, BERNANKE FAIL TO BOOST CONFIDENCE.
INDIAN CHANA EDGES HIGHER ON LIMITED STOCK.
 
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