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.

Silver Momentum Pullback Trade Setup

22 sec read

After a significant momentum in Silver 11.77 to 29.85 silver started correcting in the month of Sep 2020 towards 21.66. Last week silver dropped 14.5% which offers a potential momentum pullback trade setup towards the continuation of the previous uptrend.

Immediate support zones are around 23.05 levels and silver could potentially target 24.5 and 25 levels going forward in a very short term. Extreme downside sentiment is getting digested by the markets and could bring a potential short term trading opportunity here.

MCX Silver Daily Charts

Supports for MCX Silver on the other hand comes around 58275 levels and 62500 and 64000 are the immediate targets to consider for the current pullback trade setups.

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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