Thursday, 31 October 2013

Daily Silver Outlook

The MCX Silver December futures continues to consolidate in the broad range of Rs 48,500-51,000.

Select key momentum oscillators like the 14-day RSI and the ADX index have turned slightly favourable, hence, we may see further upside in the near term.

The weekly charts indicates that a break and close above Rs 50,500 will add fresh trigger to the white metal.

The overall bias can remain positive as long as Silver futures sustain above Rs 47,000-level.

Click Here for detailed support and resistance points.

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