Silver weak till 24680-350
10 July 2008 11:28:00
Silver - After the indecision amongst traders yesterday, today’s gain may represent the resumption of a reversal, and at least lends credence to our suspicion of a short term base at the 100 day moving average. The gold-silver ratio has dropped in after market trading to 51.2. Now support for the silver is seen at 25149 and below could see a test of 24800. Resistance is now likely to be seen at 25704, a move above could see prices testing 25910.
Trading Ideas:
• TRADING RANGE IS 24800-25910.
• BUY SILVER @ 25200-260 SL 25080 TGT 25345-390-465-560-640.MCX
• SELL SILVER BELOW 25000 SL 25122 TGT 24860-780-690. MCX
• BELOW 25000 MKT IS WEAK TILL 24680-350 LEVEL.
MCXARUN
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