Gold and Silver

Silver: Upcoming View

Silver MCX (DAILY)
The above chart is of Silver-MCX. Silver has completed 50% retracement of it's upmove from July. Also, since mid-september silver has been forming a falling consolidating triangle pattern. The current support for Silver is at 46,700 levels while resistance is at 49250 levels. As silver has broken and closed below 48250, it is weak and can fall further more till 46,700 and if 46,700 breaks then the next target is 45,000. On the upside, Silver will turn possitive 49,300 for target upto 51,700-52,000.
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