MCX Trade Tips

Today's "MCX Trade Tips For Gold "

MCX GOLDM April contract was trading at Rs 27975.00 down Rs 110.00, or 0.38% and touches intraday high of Rs 27889.04 and an intraday low of Rs 29173.00. Subsequently far 23810 contracts have been traded.

MCX GOLD (April)
After the current instability in gold, few market participants believes that it could see a rebound next week and overall their tone is cautious given jitters in the Middle East, technical charts .In previous week a little support was seen at lower level at 28180 and in the last made a high of 29334 and closed below 27824. The short-term trend is good and sharp decline to buying opportunity. For the present week, trend decider 28180 to watch out. Higher-level resistance considers at 29510, after that shows some strength and power.

"MCX Silver Price" for Today:

The white metal still remained the best precious metals, and gained 17.25 percent uptill yesterday."MCX Silver" May contract opened at Rs. 57879 and remains in a range bound within Rs. 58290 to Rs. 581400. It has broken down the important resistance of 58410 today and currently balanced around Rs. 59860 after making a high of Rs. 59604.

For now, after seeing and studying the 1hr Chart of silver it is found that it has formed a appropriate platform above Rs. 57227, but if the market is not closing below this level do not expect further downfall. More Information about Free mcx silver visit my site mcx-trade-tips.blogspot.com

GOLD (April)
In the last week, at higher level of 28878, sudden panic was seen as a result of which, it made a low of 27730 and close above 28910 indicates some support at lower level. In this week, resistance considered at 28410, crossover successfully and little positive side cannot be ruled out. Downside support at 28710 to watch out.
For Today consider resistance 29100-28360, not able to cross and sustained above, further break 28810 with volume real panic will start and may test .Closely eye 29155.

"MCX Gold Trading" Strategy for Today:

MCX gold falls, resistance at Rs.2880-29331
MCX gold gains, resistance at Rs.28915-28978
It holds small intraday profit but with some tight stop-loss
There is Possibility of move up in coming days and hold long position.