| show details Oct 2 (3 days ago) |
Silver Weekly Trading Levels :
BEST BUY & SUPP IS @ $29 ACTUAL RESISTANCE & BEST SHORT LEVEL @ $30.72 A BREAK ABOVE $32.80 UPSIDE TGT IS $36.34/38.09 ; A CRACK BELOW $27.15 DOWNSIDE TARGET 23.33/22.10/21.58
Weekly Trend :
FIRM BEARISH WITH BULLISH STREAKS ..COUPLE OF INDICATORS HAVE BROKEN THE SUPPORT CHANNEL & HEADING LOWER..BUT 1 INDICATOR FAST SCO IS PULLING BACK FROM THE LOWS BUT FACING RESIS NEAR THE CHANNEL & NO ROOM OR SPACE LEFT IN BETWEEN..
Daily Trend :
THOUGH THE PATTERN IS SIMILAR TO GOLD & INDICATORS ABOVE THE SUPPORT CHANNEL..BUT ITS DIRECTION IS HEADING DOWNWARDS OF FAST SCO & SLOW SCO ..STILL GOT SOME ROOM , SPACE (GAP) TO BE FILLED & ONE CAN ASSUME THE GAP FILLING TGT IS $28.
Trading Strategy :
ITS ADVISED TRADERS TO CLOSE SHORT POSITIONS OF SILVER @ $28.0 & OPT WAIT & WATCH STRATEGY FOR SOME TIME ..BUT NOT LONG TIME…IF AT ALL IT CRACKS BELOW 27.65 THEN TRADERS NEED TO TAKE SHORT POSITIONS QUICKLY FOR TGT 25.02 & 23.15..IF BREAKS OUT ABOVE 32.80 THEN DNT WAIT FOR OUR BEST SHORT LEVEL AS WE ARE IN A STRONG BEARISH TREND & TAKE SHORTS IF GET 34/35 $..
CMP - $29.92
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