Commodity Research Report 02 January 2017 Ways2Capital.pdf
SILVER Last week, spot silver prices rose by 1.2 percent to close at $15.9 per ounce in line with rise in gold
prices and bargain hunting at lower levels. On the MCX, silver prices rose by 1.2 percent to close at
Rs.39049 per Kg.
Detail of Chart - On the Above Given Daily Chart of Silver is preserved the psychological support
39200. MCX silver makes down channel pattern on weekly chart last week which given the Strong
Signal for entire surge of below near resistance Rs.40707 and Rs.41208 it goes up till 39200 Levels.the
Above Levels are 40208 by crossing Rs.41707 Level could be touch on next Week trading Sessions.
Now in this Week The Technical Indicators like - RSI And Moving Average convergence/divergence
trading near oversold phase consonantly on Chart given that; One should not stand into the recession
move around support Level of 38500. The Significance Levels for Silver is 38800-39200 is Down Side
and 39980-40561 is Up side silver is Expected to trade in Bullish trend for next trading Week.