Silver - Oct 29, 2020 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International silver prices were trading in the red this Thursday afternoon in Asian trade amid a firm U.S. Dollar.

Technically, LBMA Silver Spot is also trading on a negative note below $23.40 levels where its sustaining below 100-DMA below further can see downside $22.80-$21.70 levels. Resistance holds at $23.50-$24.60 levels.

Domestic silver futures on MCX tracked international prices and was trading with modest losses this Thursday afternoon trade.

Technically, MCX Silver December has given a breakdown below Rising Channel formation and is sustaining below 60000 levels indicating a Bearish momentum up to 58500-57700 levels. Resistance is at 61200-60400 levels.

Source : Equity Bulls

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