MCX Silver Tips Today: Hit All Target 63200 to 63950 Enjoy — Neal Bhai Reports
Silver failed in the 30.00 region and is seen slipping back towards support at 21.87/64.
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“The price of silver has so far come close to the 78.6% Fibonacci retracement of the September-to-February advance at 23.45, a slip through which would have the early and late October lows at 22.89/59 in its sights. Below this support area the September and November lows can be found at 21.87/64.”
“Immediate downside pressure should remain in play while silver trades below the 200-day moving average and the early March low at 24.81/92. More significant resistance can be found between the November high, January 21 high, February low, 55-day moving average and mid-March high at 25.89/26.69. While it caps we will stick to our negative stance.”
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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