mcx silver weekly : support 36500 tgts 38400 and then 40700

mcx silver weekly technical analysis for 14 to 18 march 2016

mcx silver weekly technical analysis for 14 to 18 march 2016

Mcx silver future this week closed with loss on profit booking. After strong recovery rally silver prices consolidation in range. Silver now following both bullion as well as metals trend.   For silver consolidation range is 38k on upside and 36500 on downside. For me, Mcx silver outlook above 36500 on closing basis. On upside my swing targets are 38400 and then possibly 40700.   Closing below 36500 means fresh downscale. In that scenario, traders must strategy on sell on rise side.

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Pramod Baviskar

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