|
|
S2
|
S1
|
R1
|
R2
|
TREND
|
|
|
SILVER
|
46000
|
46300
|
46700
|
47000
|
SIDEWAY
|
Technical View: MCX Silver prices have retest its trend line resistance on hourly basis. On the other hand, MCX Silver prices have been trading below its 50 HEMA which indicates negative confirmation to the prices. Counter is trading below its super trend indicator on hourly time frame. Moreover, momentum indicator RSI is trading below 40 levels on hourly chart. For now we expect prices to move lower towards 45650 levels in few trading sessions.
Silver : Silver rose for the first time in six sessions, rising 1.9 percent to $19.75 an ounce.
Outlook : We expect Silver prices to trade sideways on the back of short covering after drop in prices
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