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Monday, February 22, 2016

Heavy sell off in Silver on cards .... Be cautious




Silver




Below 37000... our target was 36700---36400. It crashed vertically and made a low of 36392 mark







Now what to expect???


Now we will not buy Silver at all... Any sharp rise will be selling opportunity in it. 


Three consecutive closes + weekly close below 36400 will see non stop panic till 34000---32500 mark in days to come


This panic will be gradual and in a very slow process and unlikely to breach its near term high and resistance level of 38100---38800


Every single rise will be selling opportunity in Silver with stop loss above 38800 on closing basis


Will it breach the level of 30000???



 **Remember... Intraday levels are purely different from positional call




Just trade with levels only.... Any reversal seems will update via App!!