Buy MCX Silver (Dec) @ 64165 SL 62990 TGT 66500 - Choice Broking
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* On the daily chart, MCX Silver (Dec) future has been trading in sideways to bullish channel from last couple of days.
* Although, the price has reversed from the prior demand zone & lower band of Bollinger band formation, which indicate further recovery in the counter.
* In addition , an oscillator Stochastic RSI suggested also positive crossover, which is again an upside confirmation.
* Moreover, on a weekly chart, the price has formed Bullish Pin bar, which indicates that the bulls have taken control.
* Furthermore, In COMEX division silver has strong support at $23.35.
* Based on the above technical structure, we suggest a bullish movement in MCX Silver (Dec) towards the level of 66500 in the near future.
Buy MCX Silver (Dec) @ 64165 SL 62990 TGT 66500
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