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Wednesday, February 4, 2009

update

MARKET ALERT AT 11AM FEB 4

MCX MARCH SILVER CMP RS. 19580,

APPEARS WEAK AND COULD TEST RS.19450

LEVELS ANDIF SUSTAINS BELOW ,CLD TEST

RS. 19390, CURRENT RESISTANCE AT RS. 19720.

7 comments:

Anonymous said...

Hi, Good Morning, Thanks for the input. Then its better to hold short,

sunny said...

hiii
can silver may move below 19000 today ?

Anonymous said...

We have gold Feb series to close on Feb10th,so any hammering expected with Feb silver?

akshaya said...

SUNNY, SILVER HAS STRONG SUPPORT AT RS. 19380, ONLY A CONVINCING BREAKDOWN BELOW THESE LEVELS, COMBINED WITH CRUDE OIL INVENTORY BUILD UP ( DATA AT 9PM TONITE), WILL PUSH PRICES FURTHER DOWN, SO WE BELIEVE TILL THEN, IT WILL BE IN RANGE BOUND MODE ONLY,
AKSHAYA

akshaya said...

JUNAID,

SIVER HAS SUPPORT AT 19390 TO 19380, ONLY A BREAKDOWN BELOW THAT WILL PUSH PRICES FURTHER DOWN, TILL SUCH TIME RANGEBOUND ONLY, ALSO CRU DE OIL INVENTORY DATA EXPECTED AT 9 PM TONITE, WHICH WILL ALSO TRACK MOVEMENT OF SILVER.
AKSHAYA

Anonymous said...

Is crude oil inventory is in positive mood to silver or negative?any idea

akshaya said...

JUNAID,

CRUDE OIL INVENTORY BUILD UP WILL PUSH DOWN CRUDE PRICES, AND AT A MACRO LEVELS, CRUDE AND BULLIONS MAVE IN TANDEM.

AKSHAYA