Our MCX Tips Experts has come out with weekly technical report for the period of 09.04.2012 to 13.04.2012. MCX Gold June can sell between Rs 28450-28500 with stop loss of Rs 28700 for target of Rs 27890. More information about free mcx tips visit my site mcx-trade-tips.blogspot.com
For this week expect gold prices to find resistance at 28605-28695 levels and added above strong resistance is seen at 28990-29130 levels. Trading consistently above 29060 would activate a rally initially towards 29330 levels, and then finally towards 29600 levels.Strong Support is now observed at 27885-27900 levels although initial support is seen at 27990 levels. Commodity Trading consistently below 27830 levels would trigger a sharp correction initially towards 27600 then 27490 levels, and then finally towards the Major support at 27200 levels.
MCX Gold Trading levels for the week (09.04.12 to 13.04.12)
Trend is down
S1- 27880 R1-28600
MCX SILVER (May)
Trading level: Only check resistance 57790-57920
In the last week it vestiges below 57820-58110, time to sell and lower level support 56050, if breaks with volume and lower level made 55145. For this week consider resistance at 56400, as remains above a few positive, will test towards 57200 or above, but higher level again selling opportunity. Major resistance 57854 to watch out