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Thursday, November 17, 2011

MCX Silver Technical levels For Today

Silver Prices are trading in a consolidation phase with slight positive bias towards 29150/29180, but we are not expecting major rallies until it cross above the 29280 level and such initiative lift prices towards 29340/29400 or even higher. Conversely unexpected fall below 28800-780 region may drag down the prices firstly to 28680/28460.
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Bullion Trading Strategy and Tips For Today | Commodity Live News

On MCX gold prices have down under Rs 29,000 . In the spot market Gold is trading under pressure. On COMEX gold is around $ 1760.  on MCX Silver has come down at Rs 57,000 with 0.5
 percent fall .
About 0.5 percent surge on MCX Crude oil is trading above Rs 5,180. In terms of base metals is dominated by a declining trend. on MCX Copper is trading at Rs 386.50 with weakness Nearly 1.5 percent. Around 1 per cent decline in aluminum and it is Rs. 107.Lead has declined by more than 1.5 percent . Nickel is the weakness of the 1 percent. Zinc was down 1 per cent.
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MCX Bullion Trading Strategy and Tips For Today ...

I expect Silver has perfect upper trend and also on technical research i am seeming some bearish possibility remains. In Oct Silver traded in bearish trend. But for long-term this is better time for Buying.The bullish case for Silver remains in the macro-economic fundamentals. With Italian bonds hitting 7%, bond markets are clearly indicating that the Euro is out of favor with investors. And as such, silver in a safe haven perspective looks attractive. With such an outlook, the current pennat pattern can be seen as bullish in context of the uptrend since October.
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MCX Commodity Newsletter For 17 Nov 2011

GOLD DOWN 1 PCT ON EURO ZONE DEBT FEARS.
CRUDE SLIPS AS EUROPE DEBT WORRIES EYED.
COPPER DOWN; EURO ZONE WORRIES, EQUITIES WEIGH.
DOMESTIC OIL AND OILSEED TRADE UP.
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