Silver Futures (MCX) 4-hour chart

6 days ago

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.

6 days ago

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