The MCX March Silver futures moved higher for the second straight day. On Thursday, the precious white metal gained to reach a high at Rs 37,098 owing to steep rally in NYMEX Silver prices, but however pared gains and ended with a minor gain of 0.5 per cent at Rs 36,628.
The Silver prices are trading below the 20-WMA (Rs 37,074) and 20-DMA (Rs 37,220). Hence the commodity is likely to remain bearish as long as Silver prices trade below Rs 37,074-37,220-odd levels.
On the downside, the shiny metal is expected to seek support around Rs 36,200-odd level.
The Silver prices are trading below the 20-WMA (Rs 37,074) and 20-DMA (Rs 37,220). Hence the commodity is likely to remain bearish as long as Silver prices trade below Rs 37,074-37,220-odd levels.
On the downside, the shiny metal is expected to seek support around Rs 36,200-odd level.
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