Silver - March 30, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International silver prices are trading weaker this Tuesday morning and early afternoon trade in Asia, tracking the strength of the U.S. Dollar.

Technically, LBMA Silver Spot is trading marginally above the pivotal level at $24.50 but a trade below the level will see prices move lower up to $24.22-$23.50 levels. Resistance is at $24.90-$25.40 levels.

Domestic silver on MCX is trading weak this Tuesday morning and early afternoon trade, tracking overseas prices.

Technically, MCX Silver May is holding a support near 64000-63200 levels and resistance is at 64400-65100 levels it could trade within these ranges for the rest of the session.

Strategy for Silver May for the rest of the session is selling near 64000 with a stoploss at 65000 and a target at 62000.

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Source : Equity Bulls

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