MCX Silver Trading Strategy for the Intraday Traders
Silver is growing slowly. According to this chart, silver is trying to move upside from the strong support trendline. It's a potential reversal point based on a support trendline.
Currently, it has broken a strong support trendline. We have chances to see a tail, fakeout, or excess here. That can be up to a hurdle. And the hurdle breakout is a direct sign of a downtrend.
After all, 200 MA is recommending further advance here. So, we can pick the silver mega lot for the targets of 63000 - 63360 - 63660 - 64000+.
Safe traders can wait for a 50 MA breakout before entering as well.
Currently, it has broken a strong support trendline. We have chances to see a tail, fakeout, or excess here. That can be up to a hurdle. And the hurdle breakout is a direct sign of a downtrend.
After all, 200 MA is recommending further advance here. So, we can pick the silver mega lot for the targets of 63000 - 63360 - 63660 - 64000+.
Safe traders can wait for a 50 MA breakout before entering as well.
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