Market Update

Market Watch

Wednesday, 8 May 2013

Mcx Market Watch


GOLD:
Trend updated for-May/08/2013.CMP-26722 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 volatality is very less and fresh Buy can be considered in the Gold if it close above27557 or buy with strict stop at 25764. 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 The current position is BUY .Positionally Immediate support for Gold is 25764.Resistance for the Gold is 26864-27044-27072-28337-28916-29355-

SILVER:
Trend updated for-May/08/2013.CMP-44861 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 volatality 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 Silver is in HOLD LONG position.Positionally Support for the Silver is 44636-44231-.Resistance for the Silver is 45722-49721-51625-53458-

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