- Fibonacci levels shows price falling from 61.8% Fib level during the first retrace.
- This time price is closer to 50% Fib level. Price is also testing 50 Week Moving average. Closing above the moving average can give higher targets for Silver.
- Unable to cross 50 Week Moving average will be negative at this point of time. But in the medium term silver may see more high's towards 61.8% fib levels Before plunging again.
San thanks for the Silver update
ReplyDeleteI request u to post gold channel update & it's resistance. I think it has broken the channel u posted here. Once again Thanks for your efforts
@RamSreeram
ReplyDeleteGold is trading above the channel. Now the level to watch is 1770. Price trading below 1770 will be negative.
Thanks SAN
ReplyDeleteI want to know wat is resistance level we have to watch out for ??
@RamSreeram
ReplyDeletePrice is staying above 61.8% Fib level for the recent major fall. So the next resistance is at 78.6% which is near 1836. There is another resistance in line chart which is near 1817. So this up move may target 1817 - 1836 level
Hi San,
ReplyDeletePlease give info, if any, about silver in INR terms. Also, generally what is the rule of thumb to compare international silver prices with mcx rates?
Thanks