Silvermini
Silver Mini MCX 15 Mins Chart AnalysisSilver Mini MCX On 15 Mins Time Fame Chart is Consolidating between Range 57800- 56500, Breakout is Awaited Either side of the Range, Till Then one Can Sell around Higher side or Range and Buy on The lower side of the Range. As the Major Trend is down Currently, If Silver Mini MCX Contact closes below 56500 We have see Further sell off
SILVER SHORT AS WELL AS LONG OPPORTUNITY TILL DECEMBER END ..We have seen the downtrend in silver form June to September .
In the month of October we saw a clear break out from the downward sloping trendline (T).
Now ,the price may again come for the retest.
So We have short entry for now in silver mini till point "D" (WHICH IS ALSO A 400 D EMA LINE RED)
We can aim from POINT "A" TO "B" FIRST and then POINT "C" TO "D" again ,
OR may take a short entry at "A" and close the trade at point "D"
ENTRY LEVELS CAN BE AT 64700 (Short entry)
TARGET CAN BE 63400 THEN 62600
STOP LOSS CAN BE PLACED AT 65700 ZONE
YOU HAVE TO GIVE ATLEAST 2O 25 TRADING SESSIONS FOR THIS
ONCE THE PRICE REACHES TO POINT D WE MAY SEE THE CONSOLIDATION,OR
PRICE MAY EVEN FALL BELOW D WE HAVE TO DO NOTHING IN TAHT ZONE BUT WAIT FOE THE BULLISH ENTRY FOR A PRETTY GOOD TARGET UPWARDS .
I will post the bullish trade later.
Thank you .
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Above analysis is just for education purpose ,
i am not a sebi register advisor ,
please consult your financial advisor before taking any financial decisions .
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 .