📌 Silver Futures (MCX) – Key Levels & Trend Outlook
Silver Futures (MCX) is currently trading near a crucial support zone of ₹97,000-₹98,000. A strong rebound from this level could push prices towards ₹1,04,000, current resistance seen around ₹1,01,800. However, a decisive break below ₹97,000 may trigger further downside toward ₹95,500-₹94,800.
🔍 Technical Indicators:
📊 200-Day EMA: ₹98,200 – Acting as a strong dynamic support; holding above this level may sustain bullish sentiment.
📈 RSI (Relative Strength Index): Currently near 57 – A move above 60 could confirm bullish momentum.
📉 MACD (Moving Average Convergence Divergence): Recently showed a bullish crossover, indicating possible upward momentum.
📊 Volume Analysis: Rising volumes on up-moves indicate strong buying interest, while lower volumes on dips suggest weak selling pressure.
📌 Key Levels to Watch:
✅ Support Zone: ₹97,000-₹98,000
📍 Upside Targets: ₹1,04,000, ₹1,06,000
🚨 Breakdown Level: ₹97,000
📉 Downside Targets: ₹95,500, ₹94,800
A break above ₹1,01,800 could strengthen bullish momentum, while sustained weakness below ₹94,800 may indicate a deeper correction. Keep an eye on global silver prices, USD movement, and interest rate cues for additional confirmation.
Silver Futures (MCX) is currently trading near a crucial support zone of ₹97,000-₹98,000. A strong rebound from this level could push prices towards ₹1,04,000, current resistance seen around ₹1,01,800. However, a decisive break below ₹97,000 may trigger further downside toward ₹95,500-₹94,800.
🔍 Technical Indicators:
📊 200-Day EMA: ₹98,200 – Acting as a strong dynamic support; holding above this level may sustain bullish sentiment.
📈 RSI (Relative Strength Index): Currently near 57 – A move above 60 could confirm bullish momentum.
📉 MACD (Moving Average Convergence Divergence): Recently showed a bullish crossover, indicating possible upward momentum.
📊 Volume Analysis: Rising volumes on up-moves indicate strong buying interest, while lower volumes on dips suggest weak selling pressure.
📌 Key Levels to Watch:
✅ Support Zone: ₹97,000-₹98,000
📍 Upside Targets: ₹1,04,000, ₹1,06,000
🚨 Breakdown Level: ₹97,000
📉 Downside Targets: ₹95,500, ₹94,800
A break above ₹1,01,800 could strengthen bullish momentum, while sustained weakness below ₹94,800 may indicate a deeper correction. Keep an eye on global silver prices, USD movement, and interest rate cues for additional confirmation.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.