SIL1! trade ideas
Silver MCX looks promisingSilver MCX looks promising at this level
After several attempt to break trend-line it is
once again at the level, RSI crossing 50 levels
If breakout occurs and stays above the Resistance we may see level around 63100-64800.
However if failed, reversal happens from this level! then nearest
support will be around 59950-58890.
Thanks
silver mini nov2021as you can see silver mini is not down. and make head and shoulder pattern now its rang bound if silver brak out its going up as you can see on the chart. there is more chance to going upside, so you can wait for the cross-resistance and if you want to enter in the market so 2 candles above you can buy it with volume this is so important this 2 thing when you can enter and easily earn money ....
silver at make or break levels]silver looks week on weekly and daily chart.
RSI on weekly and daily are week.
although silver trades at support line and global data looks +ve . one would wait before any trade but with weak silver bias.
NOTE: Festive season is ahead so silver can show some volatile move.
gold is bullish to sideways1. reverse cup and handle breakout ( -ve for gold price)
2. support near by 60000 (+/- 200) range ( +ve for gold price)
3. next month festival and weeding season (+ve for gold price)
4. global uncertainty around china real state bauble (+ve for gold price)
5. bullish divergence in RSI on daily time frame.
all above are the trigger point which might help gold to be bullish in near term. one should look for gold to buy and avoid sell.
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The exponential moving average (EMA) is a technical chart indicator that tracks the price of an investment (like a stock or commodity) over time. The EMA is a type of weighted moving average (WMA) that gives more weighting or importance to recent price data. Like the simple moving average (SMA), the EMA is used to see price trends over time, and watching several EMAs at the same time is easy to do with moving average ribbons.