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Silver prices expected to test 56200 -56500 on higher side today

Nirmal Bang has come out with its report on Gold,Silver, Copper, Nickel, Lead and Crude

Gold prices tested the upper range at 28850, for the day we can expect it to take support around 28650 – 630 and extend the range till 29000, which should be a profit booking zone.

Silver prices are consolidating and are expected to test 56200 -56500 on higher side, with oscillators weakening one can expect selling pressure around 56200 – 56500.

Copper prices resisted the downward sloping trend line at 390, for the day if it sustains below 390, one can initiate a sell with a stop loss of 394. Oscillators indicating sideways to down move.

Nickel prices were struggling to find buying interest. Prices should correct if sustains below 893. On higher end prices can test 912 – 915 which should witness selling pressure.oscillators are in negative zone.

Lead prices resisted at the previous top at 105.55, which suggest some profit booking around 103.50 -103.20. Fresh buying above 105.55. oscillator in positive zone.

Crude prices witnessed profit booking and did not closed even above 5150, which suggest we can expect it to trade down till 5000 - 4950, which is holding as a strong support. one can sell around 5100 – 5120. – MoneyControl

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Posted by on Nov 29 2011. Filed under Silver Analysis, Silver prices. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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