Mcx silver monthly-remain buy and accumulate above 39400

Silver future monthly outlook June 2017

Mcx silver future in month of May closed at 40016 with gain.
This was first gaining month for silver prices after last 2 months complete
selloff. In this month prices taking support around 38000. This month silver
future recorded low at 37725 while high was around 40470. Total 2750 rupee or 8%
range and strong positive closing for month.
For month of June 2017, mcx silver future outlook remain
bullish above 39400 support level. Daily chart price pattern and indicators are
bullish but suggesting upside for this precious metal in June series.
Above 39400, mcx silver will remain buy on dips and expect
positional targets around 41000 and then 42150. Below 39400 on daily closing
basis, trend will change and downside might be expected towards 38300 to 36700.
Bullion Commodity traders above 39400 keep buying view with
stop loss below major bottom of 38500 rupees and keep targets at 41000 and then
42150 for month of June 2017. 

From long term view, silver future given bearish breakdown
below 40500 and hit low at 37725 and now heading towards 40500 for long term
bullish breakout.

The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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