SILVER TREND FOR TODAY- 15-FEB-2013

Silver is bearish for medium-long term .Currently Silver is in strong downtrend but volume is unsatisfactory The open interest is not increasing with trend . In last few days volume based selling happened in the Silver Noting point is selling at lower levels seems decreasing. The oscillator is showing SELL signal For short term Silver is in HOLD SHORT position and closed below 1 month low with volume signals down breakout.Positionally Immediate support for Silver is 56324.Resistance for the Silver is 58126-58277-58701-58742-59962-59975-

Short term and Intraday Level of SILVER

Silver and closed below 1 week low with volume signals down breakoutCurrently Silver is in HOLD SHORT position Silver has formed a new 5 day low yesterday but failed to keep the trend so if selling has to considered better below55926.9 Buy if above 58360.0 The Silver is now trading is approaching oversold level. The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 57335.4 with a stop at 56221.8 Below 55926.9 go for sell
Intraday Resistance of SILVER are 56925.5/57221/57711.5/57414.9/57534.8
Intraday Support of SILVER are 56334.5/56039/55548.5/56460.4/56341.7

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