MCX Silver market wud be bear today. Stick with SL and do trade accordingly.
A consecutive breakdown below to 23.60% means 38.20% ( 64K - 62K ) will come soon. Otherwise, it will keep moving forward for 72K - 73K+ .
Silver Resistance and Support Level of 13 AUG 2020. Sentiment Neutral till 69200
MCX Silver had a steep fall on 11 Aug 2020. There are two gaps at 57k and 54k . Fib retracements show them amidst possible entry level.
Just a comparison between India & US Silver Futures
Silver Rally Over, Going to see 58000++++++++++++ soon :)
Silver a good long term bet if it manages to cross the 74865 levels then T1 - 75380 T2 - 76200 with SL - 74500
this chart showing that silver may open gap up and may go till its all time high one more time RRR is in chart
Utilise 9EMA on 21 RSI for direction and utilise the levels mentioned in the chart. Silver is a wild beast as far as the volatility is concerned, keep a pre ordered stop loss of 500-600 bucks in the system - or it will take you for a ride. After y'day's correction (loss on momentum), I would be more comfortable shorting on rallies.
DISCLAIMER : I AM NOT A SEBI RESITERED ADVISOR SO TRADE ON YOUR RISK BUT I HAVE GOOD EXPERIENCE IN STOCK MATKET FROM LAST 17 YEAR SO I AM JUST SHARING MY EXPERIENCE WITH YOU ALL INVESTMENT IN STOCK MARKET IS SUBJECT TO MARKET RISK
Silver looks to have reached the upper end of the current up move. A correction towards the market zone is the likely outcome. Overall, I see silver to touch 70000+ levels in the coming months. Now buying will be below 55000 keeping stop loss below 48000 for the target of 70000 +. High risks trader can use another spike towards 62500-63000 to short silver...
Silver is likely to find resistance around $24 and then see a mild correction towards $20. Then the bigger wave towards $27-28 will start.
bullish flag is observed in 1 hour chart. if momentum remains constant we can see minimum 5-10% in 2-3 days. Monthly closing of gold and silver is also very bullish.
DISCLAIMER : I AM NOT A SEBI RESITERED ADVISOR SO TRADE ON YOUR RISK BUT I HAVE GOOD EXPERIENCE IN STOCK MATKET FROM LAST 17 YEAR SO I AM JUST SHARING MY EXPERIENCE WITH YOU ALL INVESTMENT IN STOCK MARKET IS SUBJECT TO MARKET RISK