silver intraday

Sell MCX Silver below 24380
02 July 2008 10:49:23



Silver opened in New York at its low of 1773/1777. The metal soared on the back of weaker equity markets and a faltering dollar. In addition, higher base metal prices pushed silver to its high of 1817/1821 where it closed for the day.

Now support for the silver is seen at 24969 and below could see a test of 24195. Resistance is now likely to be seen at 26164, a move above could see prices testing 26585.

•TRADING RANGE IS 24195-26585.
•BUY SILVER SEPT ABV 25820 SL 25680 TGT 25880-940-990-26050. MCX
•SELL SILVER BELOW 24380 SL 24570 TGT 24270-24180-24080. MCX
•BELOW 24000 IMP SUPPORT IS AT 23650-480. MCX

MCXARUN
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