MCX Silver price analysis: MCX Silver is showing a bullish mood, supported by strong buying in the bullion market. The Trend Bullish, which means the market is still positive.
There is no major technical pattern on the chart right now, and no important candlestick or bar pattern has appeared. However, momentum indicators like Stochastics are bullish on both MCX and Comex, showing strength on the upside.
MCX Silver Price Analysis
The important levels for pattern continuation are:
- MCX Silver Upside: Above ₹1,66,666 Target
- MCX Silver Downside: Below ₹1,61,111 Target
OTM Options data also shows strength, where Call premiums have become more expensive than Put premiums, indicating bullish sentiment.
MCX Silver traders should keep an eye on the following pivot, support, and resistance levels.
📊 MCX Silver Technical Table
| SILVER | TECHNICAL ANALYSIS |
|---|---|
| BUY OR SELL | Buying in Bullion |
| Short-Term Price Regime | Bullish |
| Technical Pattern | None |
| Critical Level for Pattern Continuation | ₹1,66,666 (Up), ₹1,61,111 (Down) |
| OTM Options Skew (Comex) | Call premium more expensive than Put premium |
| Standard Pivot-Based Resistances | **₹1,66,496 |
| Standard Pivot-Based Supports | **₹1,62,096 |
| Pivot | ₹1,63,648 |
| Daily Momentum (Stochastics) | Bullish (MCX) |
| Silver Trend | Bullish (Buy on Dips) |
FAQs
1. Is MCX Silver bullish today?
Yes, MCX Silver is bullish with a Trend Score of 3, supported by strong buying.
2. What is the key resistance zone for silver?
Major resistances are at ₹1,66,496, ₹1,68,048, and ₹1,70,896.
3. Where is the major support for MCX Silver?
Support zones are at ₹1,62,096, ₹1,59,248, and ₹1,57,696.
Because traders expect the price to rise, increasing demand for call options.
5. Should traders buy silver now?
Market trend and momentum indicators are bullish, so buying on dips may work — but always follow your risk levels.
⚠️ Disclaimer
This article is intended for educational purposes only. The views and opinions expressed are those of individual analysts or brokerage firms and do not represent the views of GoldSilverReports.com. Investors are strongly advised to consult certified financial experts before making any investment or trading decisions.
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