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  • MCX Silver: 31 July, 2012

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    Price of MCX Silver futures has formed a large white candlestick, breaking out of the Bollinger Band squeeze from the past few days and tagging the upper band, indicating an uptrend. The RSI has also moved above 60 levels after moving sideways for over a month. The document recommends going long on Silver futures at the current market price or on a dip to 53900, with a stop below 53600 and upside targets of 54800, 55300, and 55900.

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    MCX Silver

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    Price of MCX Silver futures has formed a large white candlestick, breaking out of the Bollinger Band squeeze from the past few days and tagging the upper band, indicating an uptrend. The RSI has also moved above 60 levels after moving sideways for over a month. The document recommends going long on Silver futures at the current market price or on a dip to 53900, with a stop below 53600 and upside targets of 54800, 55300, and 55900.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    44 views2 pages

    MCX Silver: 31 July, 2012

    Uploaded by

    arjbak
    Price of MCX Silver futures has formed a large white candlestick, breaking out of the Bollinger Band squeeze from the past few days and tagging the upper band, indicating an uptrend. The RSI has also moved above 60 levels after moving sideways for over a month. The document recommends going long on Silver futures at the current market price or on a dip to 53900, with a stop below 53600 and upside targets of 54800, 55300, and 55900.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    31st July, 2012

    MCX Silver
    {CMP 54100} Daily chart (live) of MCX Silver September Future is given below. Observe the following 1. Price After a series of indecisive and small candlesticks, price has formed a big white candlestick in yesterdays trading session. 2. Bollinger Band Bollinger Bands had been forming a squeeze since the past few days. Price now seems to be breaking out of that squeeze and tagging the upper band. 3. RSI RSI had been moving in a sideways range since more than a month. It has now moved above 60 levels. This indicates beginning of uptrend.

    MCX Silver September futures Daily www.malkansview.com


    Page 1

    STRATEGY One can go long on Silver futures at CMP as well as on a dip to 53900 with a stop below 53600 for upside targets of 54800, 55300 and 55900.

    www.malkansview.com

    Page 2

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