Silver international has been moving in a consolidation pattern ranging $26-$35 for more than 1.3 years. As per current scenario silver has key support at $28.30 failure of this support would offer a retest to 26$. Areas of $26 would be key support and penetration of this support would offer areas of $21 and then $19 as primary supports in a time frame of 1-3 years. MACD is fluctuating near zero line and stability below zero would be added advantage for silver bearish. Areas of 32.50 would remain key resistance for this outlook and recoveries above the same may hurt our longer term bearish expectations in silver. Currently trading at $28.68.
Nifty settled at 24,578 , down by 1.39% on Tuesday. The index failed to attract follow-up buying above 24,800 , which acted as a strong resistance zone (as highlighted in our previous write-up dated May 2, 2025 ). It eventually closed well below this level, indicating the presence of selling interest near key resistance. Technical Overview: Nifty successfully tested the resistance zone of 24,800 and subsequently formed a bearish Harami pattern on the daily chart. This pattern coincides with a recent swing top and occurred near a resistance zone, thereby strengthening its technical significance. A large trading range was observed on Monday, May 12, 2025 , which suggests the possibility of a sideways move in the coming sessions. Despite the recent pullback, the intermediate trend remains bullish as the price is still holding above the 9 and 21 DEMA levels. Moreover, the 9 DEMA is placed above the 21 DEMA , confirming the uptrend. Key support is now seen in the 24,100–24,000...
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