Market Update

Market Watch

Friday, 10 May 2013

MCX Gold Silver Trends



GOLD:

Trend updated for-May/10/2013.CMP-27166 Overall trend of the Gold is bearish for medium-long term .Currently Gold is moving sideways The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing BUY signal .In last 1 month volatility is very less and fresh Buy can be considered in the Gold if it close above27557 or buy with strict stop at 25958. The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing BUY signal For short term Gold is in HOLD LONG position.Positionally Support for the Gold is 26829-26773-26673-. Resistance for the Gold is 28248-28818-29280-



SILVER:

Trend updated for-May/10/2013.CMP-45165 Overall trend of the Silver is bearish for medium-long term .Currently Silver is moving sideways The oscillator is showing BUY signal .In last 3 weeks Silver is trading in low volatility and fresh Buy can be considered in the Silver if it close above46003 or buy with strict stop at 42169. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Support for the Silver is 44805-44658-44429-. Resistance for the Silver is 49332-51271-53192-


TECHNICAL VIEW:

GOLD (APR) 

Trend          • Consolidate


Strategy      • Sell on high
Resistance  • R2 - 27780 ;  R1 - 27350
support       • S1 – 26650 ; S2 – 26180



SILVER (MAY)
Trend          • Bearish

Strategy      • Sell on high   

Resistance  • R2 - 46750 ; R1 - 45870           
support       • S1 - 43350  ; S2 – 42200


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