Commodity Silver Updates- Trading Strategy

Yesterday Silver made its highest one day loss over last 1 month and finally settled at 52596 with a loss of 3.52%. Today Silver is looking bearish limited to 52000-51700 levels and if it breaches the crucial 51700 levels, a drift downfall towrads 50000 can be seen later. Technically The broad trend is likely to remain negative untill 54000 levels. Above 54000 strong upmove can bee seen till 55000-56800 levels.

For Intraday Sell silver below 52200 for the targets of 52000-51800 Stoploss above 52600.

Above 52800 go for Buy for the targets of 53200-53500.

For Other Commodity Tips- MCX Tips Page.

Precious Metals Updates

While disappointing weak US employement dat released on Yesterday, Precious metals likely to remain firm. Gold and Silver Rose up due to global uncertainities and supporting economic data sentiments. Today Gold (Aug) moved up by 0.60% . Silver (July) also get boosted with some fresh buyings in Asian market and rose up to 55447 levels.

Gold futures August Contract is Facing a good support at 22500 level and silver might get traded above 55000 in coming trading sessions.