MCX Silver and Gold both is running opposite and for clear understanding, you should to compare with USDINR + GOLD + SILVER, it will give me exact direction idea!
Dear readers, I have one tip for you: New support 31,432 level
If close below my support then without any question, gold will go down 31,226 – 31,122 – 30,916 below and If it will not close below your support? Simple, 32000 – 32500 – 33000+ Now choice is yours!
MCX Silver is very clear. If it close below 52,431 level then it will downside 50,356 – 48,621 – 46,885 – 45,509. I am sure, this week Silver will show you strong movement but I expect it will dance between 57,313 to 52,431 levels.
There is clear signal for long term investor, once MCX Silver close above 57,313 then it will kiss 59,912 – 61,254 – 63,401+
Now you have question, what about Intraday?
Obviously, silver is not good for intraday. I am thinking it should be come around 53,412 level and it will try to test 52,431 level in between 2-3 trading sessions.
Keep patience or subscribe our service to know exact direction + for intraday calls.
Mr.Dev, has been in the forex and commodity markets since 1997. He’s one of the few non-biased investment advisors to have correctly called the current bull / bear market before it began and to have positioned his clients accordingly. As a result of his accurate forecasts on Indian commodity markets & currency, he is becoming increasingly more renowned. Mr.Dev has been quoted in many of the newspapers. He is a highly recommended technical analyst by many of the local financial newsletters and advisory services. He also is founder of commodity profit sharing service on Moneymunch.