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Silver Price Analysis: Critical Resistance Level and Potential Upside/Downside Targets

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Free commodity MCX silver daily chart and trading tips

Free commodity MCX silver daily chart and trading tips

MCX Silver’s Price Outlook: Targets for Uptrend and Downtrend Scenarios

The resistance level at 67160 is a critical level for silver’s trend, as it will determine whether the current uptrend will continue or a downtrend may be expected. If the price manages to break and sustain above the resistance level, it suggests a continuation of the uptrend, with potential upside targets at 68360, 68760, and even as high as 69300+.

However, it’s important to note that these targets are not guaranteed and depend on the price’s ability to overcome the resistance level. On the other hand, if the price fails to break above the resistance, we may expect a potential downtrend. In this scenario, downside targets may include 65600 and 65060 below the critical resistance level.

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3 Comments

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