Silver Spot Sets up another PeakCOMEX silver spot is moving sideways with the fluctuation on the 15m timeframe. It started with the descending peaks and after that made three ascending peaks. Then fall again and made a descending peak. Right now, making a descending peak again, and targets are followings $26.460 - $26.430 - $26.360 . It will make more descending peaks and fall up to $ 26.260 .
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Intraday trading strategy for MCX SilverThis is MCX Silvermini 15 minutes chart. I have used here moving average, Fibonacci, DMI, and RSI.
Fib Levels: T 71496 and B 65664
Silver will try to touch 0.382 ( 67892 ) from here. It will act as resistance. Moreover, there is a 50 MA. If silver breaks both, it will fly from there and touch 68580 levels. Intraday traders can play between it.
But if it takes a U-turn from 50 MA and breaks the 20 EMA, be ready for the following targets: 67060 - 66600 .
MCX Silver's Next Target 65200 by the Elliott WaveHere, I have applied Elliott wave , moving average , volume , and MACD . Wave 4 can be steady or sideways for a while. Overall, silver is in an uptrend. Safe investors can buy silver at wave 4 for the following levels:
Intraday Targets: 62100 - 63300
Positional Targets: 64260 - 65200
At present, moving average and MACD throwing upward signal by crossover. Technically, multiple volume spikes are a great sign of a bullish trend.