Mcx Silver Weekly Outlook – MCX Silver Mar. as seen in the weekly chart above has opened the week at 36,610 levels and in the starting of the week prices made a low of 36,537 levels. During this week prices could not able to sustain on lower levels and bounced towards the weekly high of 39,042 levels. In this week prices closed below the previous week’s closing of 36,699 levels and finally closed 5.47% higher at 38,707 levels. Technically, as per the candlestick pattern prices have formed “Bullish candlestick pattern” indicating up trend for coming trading sessions.
Silver Support & Resistance Level Report for Upcoming Next Week :
For the next week we expect silver prices to find support in the range of 38,000 – 38,100 levels. Trading consistently below 37,200 levels would lead towards the strong support at 36,500 levels and then finally towards the major support at 35,500 levels.
Resistance is now observed in the range of 39,500 – 39,600 levels. Trading consistently above 40,600 levels would lead towards the strong resistance at 41,400 levels, and then finally towards the major resistance at 42,000 levels