The MCX Silver December futures may consolidate in the broad range of Rs 48,000-51,000.
The white metal is expected to face considerable resistance above Rs 50,300-odd levels, while on the downside support can be expected around the 20-DMA at Rs 48,700-odd levels.
The overall bias for Silver seems positive, but select momentum oscillators like the daily Stochastic
Slow and the MACD are showing some signs of tiredness.
Hence, one should not be aggressive buyers at the Silver counter for now.
Click Here for daily support and resistance points.
The white metal is expected to face considerable resistance above Rs 50,300-odd levels, while on the downside support can be expected around the 20-DMA at Rs 48,700-odd levels.
The overall bias for Silver seems positive, but select momentum oscillators like the daily Stochastic
Slow and the MACD are showing some signs of tiredness.
Hence, one should not be aggressive buyers at the Silver counter for now.
Click Here for daily support and resistance points.
No comments:
Post a Comment