2. MCX Silver Trend for the Month of May
• Silver is still in a Correction mode, for Global and Currency
factors
• Silver had a Support at 43200 levels in the 1st
of this month
But failed stabilized to hold that level for next 6 weeks due
to Global Factors and currency factors
•Silver Trend Remains Bearish for the Month of May
4. MCX Silver Trend Remains Bearish for the Month of May-
Technical View
•Silver took a good support near 43200 -43100 levels but
due to Global Factors and currency Factors silver failed to
hold that support.
•Silver Direction remains Bearish because on 15-May-2013
silver Braked that Crucial support of 43200-43100 levels and
closed just above that level support this Clearly states that
silver Direction Remains Bearish.
•Silver has no support between 43200-39000 so the next
shift in the price would be 39000.
•Silver level 39000 can be expected next 20- 25 Trading days.
6. Parameters
Reason 1:- According to technical analyses theory previous Support
and immediate support has been broken
Reason 2:- According Daily chart break in both support would lead to
next Shift towards Bearish and the force would continue till next
Stong support
Reason 3:- Global factors and Currency factors are also support the
continue in Direction.
7. Silver view for next 20-25Trading Days
Silver Remains Bearish for next 1 month and Recommended to Sell
silver below 43100 for a next shift in levels up to 39000 with a Stop
loss above the immediate Resistance of 45800
Side note :- According to NYMEX Silver has a Support @ 22 ounce break out of 22ounce would lead to 18
ounce
The above side note is important because of Dollar v/s Rupee Impact can change in levels to a small errors in
levels position are recommended according to Mcx and NYMEX levels are to given only for a Reference to make
a safe and Smooth exit
