Silver weekly predictions
SILVER SPOT (XAG/USD) AND FUTURE FORECAST FOR NEXT WEEK
SILVER spot trading below all its averages on chart that shows bearish momentum for this commodity.MACD and RSI continues with there sell signals.on downside we see targets of $30.25 and then $28.40 in next week and stoploss for this trade will be $32.90.lower tops and bottoms cycle is continue on daily chart.unstable economic forecasts(CHINA) and comeback of european fear will be major factors that will triggers selling in precious metals.above chart also shows lower band target of 29.80 for medium term.
on MCX silver remain under pressure till date in this month and unable to cross 57,400.now near our target of 55,400 and then next target on downside will be 53,900.on chart we in uptrend silver move slowly but when profit booking comes we see intense selling that shows fear in investors and traders!!56,600-56,800 is good entry point to create new short while 52,000 is best deal for long term for long side!!