Silver weekly-remain sell for targets 40650 and 40100

Mcx silver outlook for next week 12 to 16 Dec. 2016

Mcx silver outlook for next week 12 to 16 Dec. 2016

Mcx silver future this week closed at 41250 with flat loss. After strong fall mcx silver is seen some recovery and now consolidating around 41k. Mcx silver future price trend and momentum both are bearish. We are seeing strong supply from market on every rise.   My mcx silver next week outlook is bearish and below 41400 remain sell. On downside 40650 and then 40100 are target zones for mcx silver in next week.   From month view, below 42k, mcx silver outlook remain weak and sell on rise. On downside 39100 is my first swing target for silver prices. Below 39100, next major support as well as target zone will be 37000.

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Pramod Baviskar

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