MTECHTIPS MCX SILVER INTRADAY trading analysis 16-06-2016
DAILY:- Mcx silver future closed at 41500 with gain. Above 41550 stay long and expect tgt 42600 then 44200.
WEEKLY :- Mcx silver future this week closed with gain. This was second weekly gain for silver prices after major correction from 42800 to 38200. But in last 2 weeks we saw almost 2000 rupee gains for silver prices. Mcx silver weekly chart, price trend and momentum both are bullish. Above 39800 silver will remain buy and accumulate.my targets are 41300 which is achieved in this week and next target will be 44200 for upcoming weeks if sustain above 41300. Failure will result in correction up to 39800 to 39100. These are strong support zones for next week. Commodity traders can buy silver on breakout above 41300 for target 44200 with strict stop loss.