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Monday, May 14, 2012

Silver Tips: Weekly Trend & Intraday Tips for Today

COMEX Silver is technically weak on charts for near term. Last week Silver was trading on lower side for most part of the week and finally closed below 3000$ mark. For the upcoming week 2650 $ and 2450$ are the crucial supports and 3350$ and 3550$ are crucial resistance in COMEX Silver. On MCX, Silver is likely to continue the bearish trend. Silver could face major resistance at the levels of 56500 and 58500. 52500 and 50500 will act as major support levels.

 Silver Tips for Today- Decline in International bullion metals have affected gold and silver severely in domestic market also. Although a slight decline has been seen in MCX gold, but silver has broken more.

 MCX Silver (July futures): Sell - 54350, stoploss of Rs - 54500 and the target - 52900-52650
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