Commodity Research Report 23 January 2017 Ways2Capital.pdf
SILVER MCX Silver may note some gains tracking cues from international exchange but upside is limited.
COMEX Silver trades higher amid rangebound movement in gold and mixed trade in industrial
metals. Uncertainty about Fed's monetary policy has resulted in choppiness in commodities at large.
Silver ETF outflows also show some profit taking by investors. We expect gold to remain under
pressure ahead of Yellen's comments and this will weigh on silver as well. The Significance levels for
Silver is 42209-42705 is up side and 41525-41059 is Down side.
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.