Here's the daily chart of the MCX SILVER. It started to rise from the 18th of March 2020. But currently, it's moving downside. It's a short time fall. After the particular level, it will start to move upside again. It may fall up to the support. And from that point, there will be a reversal in the trend. Targets for the future upside movement of the trend are the...
Silver formed inside bullish candle in 4 hour time frame, and breached consolidation zone.
Possible targets:
1) 67,500 (that is 50% Fibonacci level), if it sustain on that level then we can hold to achieve the next target.
That is
2) 68,500.
Feel Free To Ask For Any Technical/Fundamental Query
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Educational Purpose Only.
Om Namah Shivay
Brothers, Silver started going down from 6th Jan onwards. And the reason being analyzed in the chart.
It is amazing to see the lower timeframe analysis giving the level from where the flat 2 structure should tip.
All data and reason are drawn and It shows the amazing result.
Om Namah Shivay
Silver has broken the dynamic resistance & triangle formation. According to MA, EMA, & DMI, silver will run to reach 68800 - 69000 levels.
It will start falling after breaking the hurdle/support line. How much? 68000 - 67600 below.
Here I have used Gann fan and Fibonacci on Silver sport to identify the current trend.
Fib Retracement:
Top: $29.90
Bottom: $11.64
If silver remains above the 78.6% level, the target will be $27 - $27.8 .
And if it goes inside 8/1 or remains below 78.6% level, we will see the silver price at 0.618 value of fib retracement. The day traders can use...
AS PER FIBONACCI ANALYSIS, SILVER CAN GIVE GOOD MOMENTUM IF SUSTAIN ON 68,000 LEVEL,
HOLD IF SUSTAIN ON 68
BULL TGT 69,900
BEAR TGT65,700
GO SHORT IF BREAK BELOW 67,300
Feel Free To Ask For Any Technical/Fundamental Query
Comment Down Below
EDUCATIONAL PURPOSE ONLY.
A daily close above INR 67000 (US$ 25.75) would confirm a breakout. A monthly close above $27.25 (approx INR 73000) opens the passage for $33 (INR 86000)
Buy Silver at cmp 64080 Strict sl - 63199 Target - 66000/67000
Its a high risky trade, please consult your financial advisor before entering any trade.
