MTECHTIPS MCX SILVER INTRADAY trading tips 02-12-2016
MTECHTIPS MCX Silver is bearish for medium-long term .Currently Silver is in strong downtrend and the trend is supported with good volume The open interest is not increasing with trend . Noting point is selling at lower levels seems decreasing. The Silver is now trading in oversold level. The oscillator is showing SELL signal For short term Silver is in HOLD SHORT position.Positionally Immediate support for Silver is 39443.Resistance for the Silver is 40597-40893-41927-42537-43573-44416-
Short term and Intraday Level of SILVER
Currently Silver is in HOLD SHORT position Silver has formed a new 5 day low yesterday but failed to keep the trend so if selling has to considered better below39323.5 Buy if above 41300.0 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 40113.7 with a stop at 39481 Below 39323.5 go for sell.