MTECHTIPS MCX SILVER INTRADAY trading tips 21-11-2016
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.Positionally Immediate support for Silver is 39969.Resistance for the Silver is 42245-42558-42675-43578-44274-45034-
Short term and Intraday Level of SILVER
Currently Silver is in HOLD SHORT position The Silver is in downtrend For short term buy only if close above 41222.0 Selling pressure seems to be deceasing so Short term investor with risk aptitude can enter again if it close above 41637.0 but caution- close Below low5 fresh selling can occur The Silver is now trading in highly oversold level. The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 40804.9 with a stop at 40139.8 Below 39972.4 go for sell.