Silver / MCX / May 28 updateSilver Technical Analysis: Bullish Cup and Handle Pattern
Current Price: 94500
Breakout above 94500- 94600
Target: 95,550 - 96,100
Analysis:
Silver appears to be forming a bullish cup and handle chart pattern. This pattern suggests a potential upside breakout if the price decisively breaks above the rim of the cup.
A breakout above the 94500- 94600 zone would be a significant bullish signal, indicating potential for further price appreciation in the long term.
Confirmation:
Increased trading volume on the breakout would add confirmation to the bullish signal.
Stop-Loss: keep the stoploss of 300-200 points
A stop-loss order can be placed below the support level of the cup formation to manage risk.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Please consult with a qualified financial advisor before making any investment decisions.
