Silver Futures (MCX) 4-hour chart Silver Futures (MCX) 4-hour chart, and my marked a resistance zone and a downward breakout below the Ichimoku cloud and key support.
Here’s what I can interpret:
Price broke below the Ichimoku cloud, confirming a bearish trend.
There’s a clear resistance area around ₹151,000–₹153,000.
The breakdown happened below the ₹145,000–₹146,000 level.
My marked a target zone below, with a downward arrow.
✅ Likely Target Projection
Using standard technical projection (height of range = target distance):
Resistance zone top: ~₹153,000
Breakdown zone: ~₹145,000
Height: ₹8,000
If we subtract that from the breakdown area:
Target = 145,000 – 8,000 = ₹137,000
🎯 Estimated Short-term Target:
₹137,000 – ₹138,000
This aligns with my chart’s “target point” mark.
If you want to be more precise, you could:
Watch for support around ₹140,000, which might give a bounce.
If that breaks, next major support zone = ₹136,000–₹137,000.
