The MCX Silver December futures continue to consolidate in the broad range of Rs 48,500-51,000.
However, select key momentum oscillators like the 14-day RSI and the Stochastic Slow have given negative divergence on the daily charts.
Hence, Silver may weaken in the near term. One should hence watch the lower end of the trading range at Rs 48,500 very close.
Break below Rs 48,500 can invite fresh selling pressure at the Silver counter.
Click Here for daily support and resistance points.
However, select key momentum oscillators like the 14-day RSI and the Stochastic Slow have given negative divergence on the daily charts.
Hence, Silver may weaken in the near term. One should hence watch the lower end of the trading range at Rs 48,500 very close.
Break below Rs 48,500 can invite fresh selling pressure at the Silver counter.
Click Here for daily support and resistance points.
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