MCX Silver Tips and Crude Updates
Weakness in the International markets and the strengthening of rupee against dollar has put put pressure on gold - silver and crude oil prices. Rupee against the dollar is trading at 53.20 and this rise in rupee has pushed Bullion metals and crude prices on back foot.Silver has slipped more than 1.60 % on MCX and currently trading near 62200 level. He white metal has lost more than 1000 points today. Nearest support level for silver can be seen at around 61800 level. Breaching this level may extend the bearish trend in Silver till 60900 level.
MCX crude oil has slipped more than 1% on MCX and intraday traders can buy crude below 4900.
Sell Silver below 62200 for the targets of 6200-61800-61500 SL- 62500. Buying is recommended above 62800 only.
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