mcx silver weekly : 38400 tgt almost achiveved next tgt 40700

mcx silver future weekly technical analysis for 7 to 11 march 2016

mcx silver future weekly technical analysis for 7 to 11 march 2016

Mcx silver future this week closed with huge gains. Strong buying at support as well as trapped traders short covering helped silver future to test previous highs. Base metals rally also boosted sentiment.   Mcx silver future weekly chart price trend and momentum both are strong bullish. This week we seen high near 38100. My target was 38400 which almost achieved and if silver gets above it then expect 40700 as next target zone.   On downside 36500 is major support zone for mcx silver and from we seen this short covering as well as fresh buying triggered.

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