MTECHTIPS MCX SILVER INTRADAY trading tips 05-10-2016
MTECHTIPS MCX Silver is bearish for medium-long term .Currently Silver is in strong downtrend with good momentum 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 and closed below 1 month low with volume signals down breakout.Positionally Immediate support for Silver is 42400.Resistance for the Silver is 44449-45879-45968-45994-46030-46092-
Short term and Intraday Level of SILVER
Silver and closed below 1 week low with volume signals down breakoutCurrently Silver is in HOLD SHORT position Silver is in sideways but the trend looks weak so better buy above 46889.0 or hold with stop at 42570.0 The Silver is now trading in highly oversold level. The oscillator is showing SELL signal
Intraday Trend- Sell if open below 42101.7 with stop loss at 43663.1 or sell below 41408.2Buy is not advised till it cross 44359.4.