Silver future daily chart technical analysis
Silver future on Friday closed at 38706 with gain. On daily chart Silver future price trend and momentum both are now bullish. We saw reversal from 37200 and silver future taken support just above 37000 and now trending higher.
Silver future on chart trading above major short term averages and bullish signals on indicators.
For month of January, Silver future above 37700 will remain buy on dips and on upside my technical target zones will be around 39900 and then 41000. If silver future slips below 37700 and sustain then expect bearish targets of 36500 ad hen 34400 rupees.
Silver future weekly chart technical analysis
Silver future on weekly chart showing big gain for this week. This was the first gaining week for silver prices after last week’s profit booking. This week we saw silver rallied from lows of 37300 to high of 38800+.
From medium to long term view, Silver future above 38400 remain buy and accumulate and on upside my current year’s investment targets are 41300 and then 44600. Silver future weekly chart price trend and indicators are bullish. If slips below 38400 and sustain then exit from longs and expect lower levels of 35100 and then 32500. If silver prices comes around these levels, long term investors must follow buy with long term view strategy.
Silver future monthly chart technical analysis
Silver future on monthly chart showing huge gains for December. This was the first big gaining month for silver prices after last 2 months continues fall. O chart look like silver prices made bottom around 35500 and now back towards 6 months highs of 39500 level. Above this expect big breakout move and higher highs.
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