mcx silver dec future view 15 sep 2015


Mcx silver dec future is trading at 34650 with flat loss for the day. Silver prices 1 weeks trend is down and 34450 is final trend support if silver future slips below it then that will be fresh breakdown for targets 33400.
Which is lower band support zone of 20 and 50 days trend channel. On upside 35350 is strong resistance and we already seen continue supply in market around that level.
On daily chart, mcx silver future RSI is below 50 with fresh sell signal so expect eventually 34450 level will be taken-out and silver future might reach 33400 target.
For traders in silver trade is on short side for target 34450 and then 33400. 35350 was re-entry zone on bounce back with stop loss above 35900.
Mcx silver weekly chart trend analysis suggesting weekly targets around 33700 and then 32800. 35800 is resistance zone on weekly chart as was shorting point.

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