Spot Silver stays strong above $56.10 with bullish momentum. MCX Silver jumps to a 52-week high after crossing ₹1,80,000, gaining 15% in a week. Check full analysis, levels, and buy recommendations for big upside targets.
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Spot Silver Above $56.10 Target $60–$62 | MCX Silver Technical Outlook
Spot Silver is trading strongly above the crucial level of $56.10, showing powerful bullish momentum. If this trend continues, the next upside targets open toward $60 and $62.
In the Indian market, MCX Silver made a fresh 52-week high, breaking above ₹1,80,000, and delivered a massive weekly gain of over 15% — its strongest rally since August 2020.
Silver is trading well above the 9-EMA and 60-EMA, proving strong trend support. Also, the Relative Strength Index (RSI) remains above 80, which signals solid positive momentum. As long as MCX Silver stays above ₹1,68,000, the trend will remain bullish.
Spot Silver Forecast
✔ Near-term upside levels:
₹1,92,000 — ₹2,05,000
MCX Silver Technical Summary Table
| Indicator / Level | Observation | Trend View |
|---|---|---|
| Price Action | Above ₹1,80,000 (52-week high) | Bullish |
| Weekly Gain | +15% | Strong Upside Momentum |
| 9-EMA | Price above | Positive |
| 60-EMA | Price above | Strong Trend |
| RSI | Above 80 | Bullish Strength |
| Support Zone | ₹1,73,000 | Buy on Dips Zone |
| Near-Term Targets | ₹1,92,000 – ₹2,05,000 | Bullish Bias |
Trading Recommendation (Neal Bhai View)
Buy MCX Silver above ₹1,78,000
- Target 1: ₹1,85,000
- Target 2: ₹1,88,000
- Stop Loss: Maintain strict SL (as per your risk management)
The trend is bullish, and dips are good buying opportunities as long as prices stay above ₹1,73,000.
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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