Mantraa Commodity Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc. Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on mantracommodity@yahoo.com HaPpY TrAdInG.

Silver long term technical outlook

25 sec read

Silver

 
Silver long term technical outlook (06.03.2013)

Silver now trading around 54850 (($28.70) & we have analyze long term charts for positional traders. As we can see on charts, silver started a downside move in sep 2012 & after & after that we identified seen 3 downside wave in a very rare & ideal pattern called 3 drive pattern. The move is quite ideal & suggest for a possible bounce ahead.

As we can see on above silver charts, if this pattern will start working with a considerable breakout above 56200 ($29.60) then we may witness 3 major possible targets around 57900 ($30.70) , 59000 ($32.10) & then finally 62300 ($34.18).

Only a day close below 52800 ($27.10) will cancel the forecast.

All mcx silver prices are subject to change in INR value.

Mantraa Commodity Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc. Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on mantracommodity@yahoo.com HaPpY TrAdInG.

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4 Replies to “Silver long term technical outlook”

  1. here i buy silver average at 55135 , can i hold for a long time for mentioned targets

    1. Some theories that silver will fall to 45000 and then rebound, dont know how far it is true but please be careful. Trade with strict stop losses

  2. @selva, all depends on your trading style. Still yes possible if our mention condition fulfill i.e. “if this pattern will start working with a considerable breakout above 56200 ($29.60) then”

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