MTECHTIPS MCX SILVER INTRADAY trading tips 06-10-2016
MTECHTIPS MCX Silver is bearish for medium-long term .Currently Silver is in strong downtrend but volume is unsatisfactory The open interest is not increasing with trend . Noting point is selling at lower levels seems decreasing. The oscillator is showing SELL signal For short term Silver is in SELL position.Positionally Immediate support for Silver is 41952.Resistance for the Silver is 44465-45573-45793-45890-45913-46016-
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 below41935 Buy if above 46889.0 The Silver is now trading in highly oversold level. The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 43297.4 with a stop at 42232.4 Below 41935 go for sell.