The MCX Silver December futures is currently testing its major support around 20-WMA (Weekly Moving Average) around Rs 47,300-odd levels.
The lower end of the Bollinger Band on the daily charts also indicates support around Rs 47,400-odd levels, below which the next major support is around Rs 46,800-odd levels - which is the 200-DMA.
Select key momentum oscillators like the MACD, 14-day RSI and the Stochastic Slow are in favour of the bears on the daily charts.
On the other hand, the weekly RSI and the ADX index is showing signs of consolidation and may turn favourable soon.
Click Here for the daily support and resistance levels.
The lower end of the Bollinger Band on the daily charts also indicates support around Rs 47,400-odd levels, below which the next major support is around Rs 46,800-odd levels - which is the 200-DMA.
Select key momentum oscillators like the MACD, 14-day RSI and the Stochastic Slow are in favour of the bears on the daily charts.
On the other hand, the weekly RSI and the ADX index is showing signs of consolidation and may turn favourable soon.
Click Here for the daily support and resistance levels.
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