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Silver

MCX Silver opened sharply lower with a downward gap and selling pressure throughout the session. The chart pattern suggests that if Silver breaks and sustains below 60600 level it would witness selling which would drag It towards 59900-59000 levels. Important resistances for the day are placed at 61100.

SELL SILVER IN THE RANGE OF 60600-60700 SL ABOVE 61100 TGT 59900/59000

Natural Gas

MCX Naturalgas opened with a downward gap and remained volatile on either side. The price is moving in a Lower Top and Lower Bottom formation on the hourly chart indicating negative bias. Naturalgas continues to remain in a downtrend in the short to medium term, so selling on rallies continues to be our preferred strategy.

SELL NATURAL GAS BELOW 640 SL ABOVE 655 TGT 620

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