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Commodities
Silver - July 6, 2021 - Reliance Securities
Posted On : 2021-07-06 22:04:22( TIMEZONE : IST )
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
In other precious metals, international silver prices are trading higher on Tuesday early afternoon trade in Asia supported by a weaker dollar and stronger dollar.
Technically, LBMA Silver holds a 200-Daily Moving Average at $26.40 level above which could continue to push prices up to $26.75-$27.40 levels. Support is at $26.30-$25.70 levels.
Domestic silver prices are also trading with gains, tracking overseas prices.
Technically, MCX Silver September holds a 50-DMA near 70480 levels above which could see a bullish momentum up to 71200-72100 levels.
Strategy for Silver September for the rest of the session is buying on dips near 70000 with a stoploss at 69000 and target at 72000.
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.
