By Shyamal Mehta, Commodity Online
Within last seven days, Silver prices have risen by approximately 7 percent outpacing Gold prices, which have risen by less than 3 percent during the corresponding period.
Silver has shown a good run up from last two weeks on fund buying. Silver prices are all set to fly higher and could test 34000 marks within next few months.
MCX Silver future prices are trading at all time high and technically prices have entered overbought territory but after touching 31800 to 32800 levels, prices may correct to 30000. Intraday traders are advised to go long near 30800 keeping a stop loss of 30600 and can wait for the targets of 31100-31450.
Support for the Silver is at 30500 and below it could touch 30100. While resistance levels are 31500 and 32000.
To get in touch with the Analyst on this report, please mail to tips@commodityonline.com
Get trading tips on your mobile
