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MCX Silver Near New Low

Published 11/22/2013, 12:19 PM
Updated 07/09/2023, 06:32 AM
SI
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IMOEX
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Silver trading in steep down trend and it has broken down to key support area of 46,700 – 46,500 and now the valid support area for silver is seems to in the region of 42,000 where it consolidated for almost one month. We recommend selling in the resistance area for the target of valid support area in the region of 42,000.

Trade Recommendation
Any bounce towards 45,500 to 46,200 can be used as a selling opportunity with SL above 48,200 and target 43,800/42,200.

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