Mcx silver monthly-below 42k remain sell targets 39100 and 37000

Mcx silver monthly predictions for December 2016

Mcx silver monthly predictions for December 2016

Mcx silver future on last trading session closed at 40720 with loss. Mcx silver future is also in downtrend and after bounce back resuming primary trend.   Mcx silver for month of December, below 42k level remain bearish and sell on rise. On downside my monthly mcx silver targets are 39100 and then 37000.   Mcx silver trending lower with lower tops and bottoms which is very bearish signal though prices are trading in oversold zones. So keep strict stop loss for every short positions. On reversal above 42k on weekly basis, mcx silver price trend change to bull side and expect sharp short covering ally targets up to 44000 and then 46800 in that scenario.   Mcx silver weekly chart, price trend and momentum is bearish and silver prices are correcting towards long term supports as well as corrective targets 38500 and 35800 zones.

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Pramod Baviskar

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