MTECHTIPS MCX SILVER INTRADAY trading analysis 02-06-2016
DAILY :- Mcx silver last closed at 38450. Here above 38400 expect intraday recovery move up to 38900 to 39300.
WEEKLY :-Mcx silver future this week closed with loss. This was forth losing week for silver prices and in these 4 weeks silver lost almost 4000 rupee gains. For next week, mcx silver outlook remain bearish and selling might continue. On weekly chart, mcx silver shows support zones around 38200 and 37700. While on upside 39600 and 40900 are strong resistances. Silver traders below 39600 keep sell on rise view for tgts 38200 and 37700. On monthly chart, 36500 and 32400 are major supports and silver might test them if downtrend continues.