A sluggish trade has been seen in
Gold commodity while silver has further declined. The Cues around the
globe amid deteriorating economic conditions in Europe are indicating
that bullion metals may still remain under pressure.
MCX Silver is currently trading down
near 52600 level and prices are expected to decline further down to
52450 which is the nearest support level for this precious metal. If
Silver further goes down below this level, we can see some more
downside otherwise a short covering recovery is expected thereafter,
MCX Crude is also trading with negative
node. However the commodity is in bearish trend but we can expect
some recovery at lower levels. Day traders can adopt buying at lower
level strategy for crude oil.
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