After quick runup from 74500 to 78600, silver showing some overbought indicators and MFI at 15mt timeframe started giving negative divergence. Soon 30mt and 60 mt shall follow.
one can short silver at 78600 for T1 76500. SL at 78980
Happy Trading.
After quick run up from 74500 to 78600, Silver is in overbought zone. Also in 15 mt timeframe MFI started to give negative divergence, soon the same shall follow in 30 mt and 60 mt.
One cab short Silver now at 78600 for a target of 76500 soon.
Silver showing consolidation around 75000. and although in overbought zone it is showing positive mfi divergence in daily time frame.
One can enter in long position at 74830-74950 for a target of 76000+
stoploss 74700.
Crude is falling but in 15, 30 and 60 minutes time frame it is showing positive divergence on mfi and this is clearly oversold area and some bounce back may be seen till 6750-6780.
