MCX Silver Tips For Weekly: MCX Silver has finishes the week on the wrong foot, despite falling US bond yields, it remained subdued, trendless throughout the week.
On the technical front, as we have also mentioned last week, MCX Silver has portrays an inverted head and shoulders on the daily chart. However, it would need a confirmation above the neckline though Friday’s price action witnessed a daily close below the neckline.
If we talk about the technical levels. MCX Silver immediate support zone is at 65150 to 64950. Below this level we may see some panic in it till 64500–64150. 63700 to 63500 will act as strong support and reversal zone and can be used as stop loss to buy on dips.