MCX Silver Tips: Silver technical charts suggests that it has given breakout of the inverted head and shoulder pattern on the daily chart.
MCX Silver Tips And Technical Levels
It has immediate support at 66040 below that we may see 65500 then 64900. Major support zone is around 65100–64200, from these levels we may see some bounce back in Silver.
MCX Silver has immediate resistance key @ 67400–67500 levels.
If it breaks and sustains the resistance levels of 67500 then we will see an upside move till 68300—-69000 and then to 69500. Above 69500 we may see more rally in it.
Overall the major trend seems positive buying on dips is advisable, any pullback towards the mentioned support levels can be used to accumulate long positions.