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MCX Silver Short Term Bearish Weekly chart

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Posted by : Karan Hakim on | Feb 16,2015

MCX Silver has been in a downtrend since the past one year forming lower tops and flat bottoms within the channel (C1-S). The price has recently broken the support from the long term support at Rs.39465 and closed below the same, further the price gave a sharp correction and currently heading towards the previous Low (T) of Rs 32555/32000. Hence the medium term trend continues to look bearish for Silverand a test of Previous low at Rs. 32555 (T) level looks possible.                                                                              

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