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Sunday, June 12, 2011

gold silver mcx futures trading strategy june 13 2011

gold silver mcx futures trading strategy june 13 2011 : Gold Market Outlook
COMEX Gold is in an upward phase. Last week COMEX Gold neither sustain on higher levels nor at lower levels. In the coming week 1475$ will act as a major support in COMEX Gold, if COMEX Gold sustains above 1520 $ an ounce then above 1551 $ an ounce it can touch the level of 1565$ an ounce and if COMEX Gold sustains below 1500$ then it can slightly correct and test the level of 1485$ an ounce.

Gold Trading Strategy
For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1520 $ an ounce, then above 1551$ it can test the level of 1565 $ an ounce and above 1575$ it can further move upward. Trade by keeping the strict stop losses.

Major support for COMEX Gold in the coming week is 1500$ and 1460$.
Major resistance for COMEX Gold in the coming week is 1580$ and 1625$
Major support in MCX Gold is 22400 and 22200
Major resistance in MCX Gold is 22850 and 23050

Silver Market Outlook
COMEX Silver is technically consolidating on charts. Last week COMEX Silver neither sustain on
higher levels nor at lower levels. For the upcoming week 3480$ and 3250$ are the crucial supports and 4000$ and 4250 $ are crucial resistance in COMEX Silver. In MCX Silver 61000 and 64000 will act as major resistance and 52000 and 50000 will act as major supports.

Silver Trading Strategy
Technically COMEX Silver is bullish on charts and still in an upward channel, For the next week traders can use buy on lower level strategy if Silver sustains above the level of 3600$ an ounce, then above 3790$ an ounce it can further go upward and can test the level of 3880$ an ounce. Trade by keeping the proper stop losses. For the latest updates PRESS CTR + D or visit Stock Market news Today

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