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 Technical Analysis – Buying Opportunity Ahead

27 sec read

Silver (14.10.2014) lost more than 15% from july 2014 & probably looking for some relief now.

Now silver is trading around $17.46 area & as we can see on charts, silver probably building support from 161.8% Fibonacci retracement of the last upside move. This level could be consider as neckline for silver future movement & well supported by the candlestick pattern & oversold indicators.
 
On fundamental side, improving economic data as well as possible supportive move in gold boost the silver price.

silver

 
Based on above studies, silver possibly move to $18.50 & then $19.50 in coming weeks but need a stability above $17.60 before that while a day close below $16.65 will delay the forecast.

Note – Above technical analysis is not a buy/sell recommendation. For recommendations Contact Us 

MCX  levels ->    S2(7700)         S1(38230)        cmp(38800)       R1(39450)        R2(40700)

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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