Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

MCX Silver Weak Downtrend to sustain?

19 sec read

MCX Silver Daily Charts

SILVER EOD

Silver managed to breach above 2015 high and traded above 40635 for sometime. However on last Friday moved back below 2015 year high with sharp downside which makes the trading sentiment to turn negative on both daily and weekly timeframes.

 

For this week MCX Silver is expected to trade weak with few more selling pressure with immediate resistance comes around 40530 zone. Post the Fridays price action volatility in the silver is increased and more volatility is expected in the upcoming trading sessions.

MCX Silver Weekly Charts
Silver Weekly

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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