Silver future daily chart technical analysis
Silver future on Friday closed at 37256 with loss. On daily chart Silver future price trend is bullish but momentum is fizzing due to stronger rupee and also profit booking. Silver future hit 38200 target but failed to sustain above it and now correcting towards major trend support of 36900 rupees. Below 36900 expect bearish trend and much lower levels. Daily chart indicators and oscillators are bearish and with sell signal. If gives reversal from 36900 then expect 38200 and above level once again.
Silver future weekly chart technical analysis
Silver future on weekly chart showing first weekly loss. after last 2 weeks rally this week we saw profit booking in silver future and also correction due to stronger rupee.
On weekly chart silver future once again failed to cross major long term averages and which resulted in sell off. Here 38400 level will remain major hurdle on weekly chart and on downside 36000 and 34700 are long term support zones as well as target zone in current scenario.
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