3 February 2016

MARKET OUTLOOK OF SILVER 03 FEB 2016

YESTERDAY CRUDEOIL  ROCKSSSS HIT FINAL  TGT 2020


Silver: Silver prices need to sustain above 35100 levels for the counter to retest 35400 areas again. The broader prices set-up for the counter will stay positive until prices trade above 34000 levels. Immediate support is seen around 34500 below which prices will trade weak.The above is hourly chart of Silver. It suggests that prices are hovering near trend line support levels. If it breaks 34700 then it will fall further till 34225 levels. On the upside, immediate resistance is located at 35110 levels. Precious metals steadied after touching three-month highs on Tuesday, underpinned by global growth concerns and as another sharp drop in the oil price pushed investors toward safe-haven assets.

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