Silver
Range: 66050 - 69000
Our Preference: Buy Silver 66350 back up Buy 66050 for target 68500 with SL only below 65700 (Only if sustain) .
Alternative Scenario: Sell Silver only below 65700 for target 63800 with SL of 450+ point.
Short Term Technical view
There is a weekly Chart of Silver MCX.
Trendline Begin from 27th Nov 2020 Low 57877
Pass by 31st March 2021 Low 62500
Expected on 20th July 2021 Low 66674
The Trendline shows Silver taking support @ 66674, at the same time Silver made a low of 66286 on 20th July 2021.
Silver has a low of 62500 Post high 74222 where is basic 70% of correction complete @ 66050.
Comex Silver has a good support @ 24.67$ where Latest low 24.79$. Which is near the Buy Zone.
Above Trendline & Correction both indicate Silver should Buy from 66050.
As Silver closes below 65700 will exit from Buy Position & short term sell will activate based on weekly close.
Range: 66050 - 69000
Our Preference: Buy Silver 66350 back up Buy 66050 for target 68500 with SL only below 65700 (Only if sustain) .
Alternative Scenario: Sell Silver only below 65700 for target 63800 with SL of 450+ point.
Short Term Technical view
There is a weekly Chart of Silver MCX.
Trendline Begin from 27th Nov 2020 Low 57877
Pass by 31st March 2021 Low 62500
Expected on 20th July 2021 Low 66674
The Trendline shows Silver taking support @ 66674, at the same time Silver made a low of 66286 on 20th July 2021.
Silver has a low of 62500 Post high 74222 where is basic 70% of correction complete @ 66050.
Comex Silver has a good support @ 24.67$ where Latest low 24.79$. Which is near the Buy Zone.
Above Trendline & Correction both indicate Silver should Buy from 66050.
As Silver closes below 65700 will exit from Buy Position & short term sell will activate based on weekly close.
Comment:
Buy Silver 66350 back up Buy 66050 for target 68500 with SL only below 65700 (Only if sustain