Thursday, 4 April 2013
Commodity Jackpot Call: No respite for Silver
The bears are likely to have the upper-hand as long as MCX Silver May futures trade below Rs 51,700.
Click Here for the live Silver MCX prices.
However, select key momentum oscillators like the MACD and 14-day RSI have entered heavily oversold territory.
Hence, a sharp pull-back from intra-day support levels cannot be ruled out.
Today Silver MCX May futures may seek support around Rs 50,330-50,210-50,085, while face resistance around Rs 51,115-51,235-51,350.
MCX Silver Micro April futures may seek support around Rs 50,345-50,225-50,100, while face resistance around Rs 51,140-51,265-51,390.