A part of Indiaonline network empowering local businesses

MCX Silver Short Term Bearish Weekly chart

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.                                                                              

About Kotak Commodities

Kotak Commodities is promoted by the Kotak family that has decades of experience in commodity trading, they have a full-fledged research division involved in macro & commodity complex research and commodity specific research. This is combined with a strong and well networked sales force, which helps deliver current and up-to-date market information and news. For more information visit their website. http://www.kotakcommodities.com/