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MCX Bullions

December 18, 2011
For the next week we expect Silver prices to find resistance at 54460-54560 levels and strong resistance are
seen at 56600-56700 levels. Daily closing above 56700 levels would indicate that a short term bottom has
been posted and thereby recovery can be expected initially towards 57800 levels and then finally towards
59920 levels.
Support is now observed at 52740-52640 levels. Trading below 52600 levels would continue the previous
weeks fall initially towards 51530, and then finally towards then Major support at 49380.
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