Mcx Silver Outlook Report - MCX Silver July as seen in the weekly chart above has opened at 36,675 levels and made low of 36,250 levels. This week prices rallied sharply higher and made a high of 37,481 levels. This week prices closed above the previous week’s closing of 36,594 levels and finally closed 0.24% marginally higher at 36,680 levels. Technically prices have formed “Doji candlestick” indecisive.
Mcx Silver Support Level :
For the next week we expect silver prices to find support in the range of 36,300 – 36,400 levels. Trading consistently below 36,300 levels would lead towards the strong support at 35,500 levels and then finally towards the major support at 34,800 levels.
Mcx Silver Resistance Level :
Resistance is now observed in the range of 37,500 – 37,600 levels. Trading consistently above 37,600 levels would lead towards the strong resistance at 38,300 levels, and then finally towards the major resistance at 39,000 levels.