Comex/MCX: Silver's Next Move A Shorter Bounce

Published 12/21/2012, 06:25 AM

Yesterday I ventured to do a Q1 2013 outlook for gold in Comex and India’s Multi Commodity Exchange (MCX) indicating the possibility that prices may bounce back to $1760. I am trying to do a similar exercise with Comex Silver March and MCX Silver March charts.
Next Bounce May Be Shorter
As can be seen in the charts, the successive fall and bounce back is getting weaker and therefore if ever there is a bounce in MCX Silver March charts, it can go as high as 63,000 while in Comex charts it may go as high as $32. Ofcourse, unexpected new developments have the possibility of pushing prices higher but pundits feel that given the changing macro-economic scenario safe haven status of precious metals is waning.
Silver (GLOBEX)

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.