SILVER:- Weekly Technical Report:- 18.06.2012 to 22.06.2012

SILVER:- Weekly Technical Report:- 18.06.2012 to 22.06.2012


MCX Silver July as seen in the weekly chart above has opened at 54,315 levels initially moved sharply higher, but found


resistance at 55369 levels. Later prices fell sharply towards 53,951 levels and finally closed higher from the previous weeks

closing levels.

For the next week we expect Silver prices to find strong support in the range of 53,800-53,700 levels. Multiple closing below

53,700 levels would indicate that a short term top has been posted and thereby would open the door for a new leg down

initially towards 53,190 then 52,488 and then finally towards 50,880 levels.

Strong Resistance is now observed in the range of 55,280-55,400 levels. Daily closing above 55,400 levels would renew the

previous rally initially towards 56,034 levels and then finally towards 57,400 levels.

GOLD:- WEEKLY TECHNICAL REPORT :- 18.06.2012 TO 22.06.2012

GOLD:- WEEKLY TECHNICAL REPORT :- 18.06.2012 TO 22.06.2012 (NEAL BHAI 9999974733)


MCX Gold August as seen in the weekly chart above has opened at 29549 initially made a low of 29527 and then moved sharply higher, breaking both the resistances, but finally found good resistance at 30236 levels. Later prices corrected towards 30060 levels and finally closed sharply higher from the previous weeks closing levels.

... For the next week we expect gold prices to find Support at 29,970 – 29,930 levels and further below strong support is seen

at 29,700-29,650 levels. Trading consistently below 29,650 levels would trigger sharp correction initially towards 29555 and

then finally towards the major support at 29254 levels.

Resistance is now seen at 30400-30430 levels and then strong resistance is seen at 30690-30720 levels. Trading Tips consistently

above 30730 levels would trigger a sharp rally initially towards 31030 then 31400 and then finally towards the Major resistance at 31800 levels. NEAL BHAI 9999974733