MCX silver remains strong on better global trends
Friday, 20 November 2009
MUMBAI, Nov 19 (Commodity Online): The prevailed bullish scenario for the bullion in the global market due to waning US dollar enabled the silver futures to maintain its previous upper level in the domestic market Thursday.
MCX silver December contract opened Rs.27 down at Rs.28,200/kg. The contract fluctuated between Rs.28,200-Rs.28,350/kg. Silver December contract traded up by Rs.48 at Rs.28, 275/kg. Total volumes in December contract were 2,404 lots.
Now support for the silver is seen at 27943 below could see a test of 27658. Resistance is now likely to be seen at 28600, a move above could see prices testing 28972.
MCX silver December contract opened Rs.27 down at Rs.28,200/kg. The contract fluctuated between Rs.28,200-Rs.28,350/kg. Silver December contract traded up by Rs.48 at Rs.28, 275/kg. Total volumes in December contract were 2,404 lots.
Now support for the silver is seen at 27943 below could see a test of 27658. Resistance is now likely to be seen at 28600, a move above could see prices testing 28972.