MCX Silver has been moving in a tricky manner since past few sessions and at such times only an objective method can provide with a precise way of trading. We were successful in capturing the downmove even when prices looked to be at crucial juncture just with the help of Elliott wave and simple channeling technique. See yourself
Below is the chart showing detailed analysis published in our research report -“The Commodity Waves STU”
Silver July 60 mins chart: (Anticipated as on 28th May 2019- Morning)
Silver July 60 mins chart: (Happened as on 28th May 2019)
(Below is an extract of the research published in our daily research report)
Anticipated as on 28thMay 2019- Morning: On the hourly chart, in the previous session prices opened with minor gap up near 36468 & moved lower in a dragging manner and eventually filled the gap by the end of the day. Prices are taking support near 36360 levels and hence a break below that could take the prices lower with momentum. On the other hand 36600 is an immediate resistance.
In short trend for MCX Silver seems to be sideways. A decisive break below 36360 would take prices downward near 36100-36000.
Happened as on 28thMay 2019: Prices moved lower in sync with our expectation and broke its important support near 36360 levels & surpassed the target of 36000 moving further lower to make day’s low near 35825 levels.
We have been BANG ON correct in capturing such tricky moves in other commodities like Gold, Silver and Crude as well. Subscribe to our daily commodity research report published under the name “The Commodity Waves STU”– Check here to get daily updates for the same and ride the trend with the help of reports.
Nifty, Bank Nifty and broader indices all are now at very important juncture. We have come out with exclusive offers for someone wanting to subscribe the complete package of research. You cannot miss this opportunity that too at such crucial juncture… See the latest Summer Offers this May here
You can now avail multiple offers and leverage on the above research in the cost of just one. Get momentum and Multibagger at the cost of 1 under Combo Summer Special. See all the offers here