Technical Analysis SILVER
Weekly Chart
Weekly Pivots
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
SILVER 3007 2807 2606 2517 2406 2317 2205 2005 1804
Market Overview
COMEX Silver is in a bullish phase. Last week COMEX Silver sustained above the level of 2350$ an ounce. For the upcoming week 2285$ and 2160$ are the crucial supports and 2500$ and 2580$ are crucial resistance in COMEX Silver. In MCX Silver 37000 and 38800 will act as major resistance and 34900 and 33500 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 2350$ an ounce, then above 2500$ an ounce it can further go upward and might test the level of 2550$. Trade by keeping the proper stop losses.
