Thursday, 24 October 2013

Daily Silver Outlook

The MCX Silver December futures is within striking distance of its 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 around the higher end of the Bollinger Band on the daily charts around Rs 50,500-odd levels.

In case of a correction Silver can slip back below the Rs 49,000-level to Rs 48,750-odd levels.

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