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Silver Futures

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SV1! trade ideas

SILVER forecast - went into correction mode and might extend furSilver is witnessing quite a huge dip today, opened gap down below the support area, seeing further massive sell-off , this correction might extend further as i see a probability of cypher pattern on the daily chart and the support of cypher pattern also aligns with weekly support around 64810- 63000. Hence , even if we se any rally in the coming trading session , it might get consumed in another selloff. Conclusion : short term trend is definitely bearish, but intermediate and long and long term trend is still bullish, so as a investor one can wait for 65000 - 63000 levels as an investment zone.
MCX:SILVER1!Short
by manuagarwal21
Silver forecast - break it or make itWe have a bit different situation in Silver. The flagging formations on the monthly chart failed more compared to Gold. In fact, in 2012 there was a clear depreciation in this market – flagging formation that broke to the downside; tight consolidation followed by the final breakdown. Certainly, it is too early to jump into this market, but in the case, we see a breakup in this market, bulls could target the 38 – 40 range. Overall a lot depends on the dynamic of key economic indicators. It’s worth noting that inflation is growing quite rapidly in China’s manufacturing sector, which many economists warn could translate to higher costs for a wide range of goods across the globe. If inflation worries spread on major markets, the precious metals sector will shine and deliver amazing returns for qualified traders.
COMEX:SI1!
by Inna-Rosputnia