The MCX Silver December futures has reached within striking distance of our short-term target at Rs 51,000-odd level.
However, select momentum oscillators like the 14-day RSI and ADX index are showing some signs of tiredness.
Hence, Silver may face some resistance above Rs 50,600-odd levels, which is the higher end of the Bollinger Band on the daily charts.
In case of a correction, Silver can drop back below the Rs 49,000-level to Rs 48,650-odd levels.
Click Here for the daily support and resistance levels.
However, select momentum oscillators like the 14-day RSI and ADX index are showing some signs of tiredness.
Hence, Silver may face some resistance above Rs 50,600-odd levels, which is the higher end of the Bollinger Band on the daily charts.
In case of a correction, Silver can drop back below the Rs 49,000-level to Rs 48,650-odd levels.
Click Here for the daily support and resistance levels.
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