(Time Zone: Arizona, USA)
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International silver prices were flat in lackluster trade in early Monday afternoon in Asia.
Domestic silver was down by 0.35% this early Monday afternoon trade.
Technically, LBMA Silver Spot holds a resistance of 100-Daily Moving Average at $24.55 levels. However it is sustaining near $24.00 levels indicating for sideways momentum to continue in the range of $23.50-$24.90 levels.
MCX Silver December is holding a resistance near 62450 levels where it has a strong support near 61500 levels indicating a sideways momentum to continue in the range of 61400-62500 levels.
Disclaimer: The recommendations, if any, made herein are expression of views and/or opinions and should not be deemed or construed to be neither advice for the purpose of purchase or sale of any security, derivatives or any other security through RSL nor any solicitation or offering of any investment /trading opportunity on behalf of the issuer(s) of the respective security(ies) referred to herein. These information / opinions / views are not meant to serve as a professional investment guide for the readers. No action is solicited based upon the information provided herein. Recipients should rely on information/data arising out of their own investigations. Readers are advised to seek independent professional advice and arrive at an informed trading/investment decision before executing any trades or making any investments. While due care has been taken to ensure that the disclosures and opinions given are fair and reasonable, none of the directors, employees, affiliates or representatives of RSL shall be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way whatsoever from the information / opinions / views contained herein.