01-01-2024 12:09 PM | Source: Kedia Advisory
Sell Silver Mar@ 74800 SL 75500 TGT 74000-73400. MCX - kedia advisory
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Silver
Observations
Silver trading range for the day is 73235-75235.
Silver falls on profit-taking post price surge on anticipation of Fed rate cuts. Economic data showed an increase in weekly claims to 218K, surpassing the estimated 210K.
The Fed is expected to start reducing interest rates as inflation in US economy is in a downtrend.
As per the CME Fedwatch tool, market participants see more than 88% chance of the Fed cutting interest rates in March.
SELL SILVER MAR @ 74800 SL 75500 TGT 74000-73400. MCX
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