Mcx Silver Short Term View Report : 10th July 2019

Insignia Consultants

New Delhi

Wednesday, July 10, 2019

TIME 9:06 AM IST                   

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MCX SILVER REPORT (SHORT TERM VIEW)

MCX Silver September has been trading in 37400-38300-38900 wider trading range for quite some time. This range will be broken soon and a new range will be formed.

Silver September 2019:  (previous day close/CMP Rs.38135)

1. 100 day moving average at 37648 is the key short term support.
2. 200 day moving average at 38041 is the immediate support.
3. 100 week moving average at 38566 is the immediate resistance.
4. 200 week moving average at 39154 is the key long term resistance.
5. Our view: Silver can rise to 39154 in the short term as long as it trades over 37400-37648 range.
6. Short term bearish trend will be there if silver does not break and trade over 39154 by end July of silver falls below 37400.
7. BUT remember that silver has a tendency of consolidating for a much longer period than most of us expect. Silver is testing its traders well as investors alike.

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees  have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. All analyses used herein are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading.Website www.insigniaconsultants.in. Prepared by Chintan Karnani

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NOTES TO THE ABOVE REPORT

ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
ALL PRICES ARE IN INDIAN RUPEE UNLESS OTHERWISE SPECIFIED
APPROPRIATE STOP LOSSES PER LOT IN INDIAN RUPEEES ON THE TRADING CALLS GIVEN IN THIS REPORTTHE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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