MCX:SILVER1! NO FAVOURABLE CHART PATTERNS, NO TECHNICAL SIGNS OF REVERSAL.
Can a contra bet of long positions be initiated at current levels ? Well, the retail investors looking for diversification of their portfolio's, have a great opportunity to add silver futures. The risk reward ratio is favourable at current rates plus there is a high chance of bounce back and short covering at the expiry.
But again, One cannot predict the downfall from the current levels as there are no indications in the chart patterns. Just a blind trade.