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MTECHTIPS;-MCX Silver range-bound; support 42900, 42600 and resistances 44000, 44500

MTECHTIPS;-MCX Silver range-bound; support 42900, 42600 and resistances 44000, 44500

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Published by MtechTips
MTECHTIPS;-MCX Silver range-bound; support 42900, 42600 and resistances 44000, 44500

The trend in silver futures for July delivery on India's Multi Commodity Exchange (MCX) looks range bound. The commodity prices have been trading in the range of 42600 – 44800 for the past 10 to 15 days.“Support for the commodity is seen at 42900, if prices break the same then the next support is seen at 42600 level while resistance is seen at 44000 and 44500 levels,” said Tarang Parmar, Research Analyst at Commodity Online.“Traders with risk appetite may sell near 43900 with stop loss above 44500 for the target at 43200 and 43000 levels.”“Short term traders may take long position above 44800 level with the stop loss below 44000 and can wait for the target at 46500 and 48000 levels,” he noted.MCX silver for July delivery was seen trading down by 0.11% Rs.43570 per kilogram as of 01.42 PM IST on Wednesday.Silver is witnessing a weak trend in both domestic and international market on speculation that central banks around the globe would cut their monetary stimulus.Silver futures for July delivery on Globex platform of Comex was seen trading up by 0.39% at $21.730 per troy ounce as of 02.09 PM IST on Wednesday.
WWW.MTECHTIPS.COM
07489294118-119
MTECHTIPS;-MCX Silver range-bound; support 42900, 42600 and resistances 44000, 44500

The trend in silver futures for July delivery on India's Multi Commodity Exchange (MCX) looks range bound. The commodity prices have been trading in the range of 42600 – 44800 for the past 10 to 15 days.“Support for the commodity is seen at 42900, if prices break the same then the next support is seen at 42600 level while resistance is seen at 44000 and 44500 levels,” said Tarang Parmar, Research Analyst at Commodity Online.“Traders with risk appetite may sell near 43900 with stop loss above 44500 for the target at 43200 and 43000 levels.”“Short term traders may take long position above 44800 level with the stop loss below 44000 and can wait for the target at 46500 and 48000 levels,” he noted.MCX silver for July delivery was seen trading down by 0.11% Rs.43570 per kilogram as of 01.42 PM IST on Wednesday.Silver is witnessing a weak trend in both domestic and international market on speculation that central banks around the globe would cut their monetary stimulus.Silver futures for July delivery on Globex platform of Comex was seen trading up by 0.39% at $21.730 per troy ounce as of 02.09 PM IST on Wednesday.
WWW.MTECHTIPS.COM
07489294118-119

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categoriesTypes, Research
Published by: MtechTips on Jun 12, 2013
Copyright:Attribution Non-commercial

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09/09/2013

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MTECHTIPS
MCX Silver range-bound; support 42900,42600 and resistances 44000, 44500
The trend in silver futures for July delivery onIndia's Multi Commodity Exchange (MCX) looksrange bound. The commodity prices have beentrading in the range of 42600
 –
44800 for the past
10 to 15 days.“Support for the commodity is seen
at 42900, if prices break the same then the nextsupport is seen at 42600 level while resistance is
seen at 44000 and 44500 levels,” said Tarang
Parmar, Research Analyst at Commodity
Online.“Traders with risk appetite may sell near
43900 with stop loss above 44500 for the target at

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