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MCX Commodity Tips and Trading Strategy for June 7th, 2010: Buy MCX Silver

June 7, 2010 by  
Filed under Analyst's Corner, MCX Commodities

MCX Commodity Tips and Trading Strategy for June 7th, 2010: Buy MCX Silver with SL of 28350 for TGT of 28940.

MCX Silver Contract prices on its 4-Hourly chart has formed Bullish Engulfing formation, a White candlestick formation which engulfs previous day candle completely.

whereas on Daily Chart Prices are forming Harami formation, a Long black candlestick followed by small bullish candle stick next day both these formation are bullish reversal formation.

On indicator front, RSI on 1-Hourly chart is reversing form over sold zone & MACD on 1-Hourly chart has given moving average cross-over which is a bullish indication.

Thus we recommend to Buy Silver with SL of 28350 for TGT of 28940

Contributed By: Deepak Jain CFA, ICFAI, Hyderabad.

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Comments

2 Responses to “MCX Commodity Tips and Trading Strategy for June 7th, 2010: Buy MCX Silver”
  1. Naveen.D says:

    Thank u sir. sir please send me free tips on my mobile @ 09030565331.
    Thank you sir.

  2. jignesh soni says:

    hello i sir i am trade in mcx so please free trial tips suggesh me my cell no. 09537160255 tnx

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