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Silver MCX short term trend analysis


Silver MCX: silver mcx having very strong support in range of 49000 on daily closing basis with multiple bottom confirmation and it has broken out its short term resistance above 54000 and made 55987 after breakout. 562890 is its 200 days SMA resistance 2 consecutive close above 56300 would signal a primary rally till 57900-58200 over all this swing is open for 60000 but 56300-58300 zones will remain minor hurdle.
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rashmi said…
sirif 60000 levels r to b reached in silver then on comex it wil b over 32.2 as posted in r jan 10 post,is tht ryt,which level to follow,gauri
January 21, 2012 at 8:47 PM
Sunil Rathi said…
Rashmi ji on that post i have written about measured move according to that trade setup there is a possible reversal point around 32.80-32.70 zones, there we can see a pullback and i have also written in this post that 56300 and 58300 as hurdles. But if silver manage to close above 32.70-32.80 zones then this rally may extend till 35.70 so don't think that what i have written in that post and where market will move if i will post anything on my blog then i will update my followers time to time regarding any particular entry and if u have any doubt then feel free to write me at sunirathi@hotmail.com i'll clear all your doubts.
January 22, 2012 at 12:49 AM
rashmi said…
hi sunil,plz tel me wat to do,i hv shorts at 54k,hedged at 55700,now on monday wat levels to watch out where i cn open d hedge either ways,regds
January 22, 2012 at 1:19 PM
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