MTECHTIPS MCX SILVER INTRADAY trading tips 07-11-2016
MTECHTIPS Silver is bearish for medium-long term .Currently Silver is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend . In last few days lot of positive accumulation happened in the Silver. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Support for the Silver is 42684-42426-42217-.Resistance for the Silver is 44284-44961-45032-
Short term and Intraday Level of SILVER
Currently Silver is in HOLD LONG position Silver is in profit booking mode so hold with stop at 43088 The Silver is now trading is approaching overbought level. The oscillator is on SELL signal and Silver is coming down from overbought level
Intraday Trend- Buy is advised only above 44264.1 with a stop at 42923.1 Below 42535 go for sell and put stop at 43874.