Technical Analysis MCX SILVER
Weekly Chart
Weekly Pivots
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
SILVER 2851 2684 2516 2414 2349 2246 2181 2014 1846
Market Overview
COMEX Silver is in a bullish phase. Last week COMEX Silver does not sustained near to its high. For the upcoming week 2225$ and 2160$ are the crucial supports and 2500$ and 2580$ are crucial resistance in COMEX Silver. In MCX Silver 36000 and 37000 will act as major resistance and 34550 and 33400 will act as major supports.
Strategy
For the next week traders can use buy on lower level strategy if Silver sustains above the level of 2270$ an ounce, then above 2370$ an ounce it can further go upward and might test the level of 2410$. Trade by keeping the proper stop losses.