MCX Silver Trading Tips – Below 39555 Level Sell on Rise

European Central Bank President Mario Draghi warned on downbeat economic growth. “The risks surrounding the euro area growth outlook have moved to the downside on account of the persistence of uncertainties,” Draghi told, citing trade and geopolitical threats and emerging market volatility.

MCX Silver support @ 38710 and below same could see a test of 38525 levels and resistance key is now likely to be seen @ 39280, a move above could see prices testing 39555.

The US Senate blocked duelling bills to fund the government, leaving no clear path to ending the longest government shutdown in US history.

German manufacturing activity in January contracted at the fastest in over four years, according to Markit’s survey data released January 24, underlining worries that the eurozone’s largest economy may be losing steam.

Read More : Fed to Slow 2019 Rate Hikes As Downside Risks Mount, Poll Shows – GSR

The European Central Bank decides to keep key interest rates unchanged in its first monetary policy meeting of the year.

The eurozone marginal lending rate came in at 0.25%, main refinancing rate at zero, and the deposit rate at -0.4%.

The number of Americans filing applications for unemployment benefits fell to more than a 49-year low last week, but the drop likely overstates the health of the labour market as claims for several states including California were estimated.

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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