silver intraday

Silver has paused its big down move yesterday. We remain near the recent low of 16.50. There is very little to suggest that this move is over, so the risk remains for a drop to 16.01, the May low. Silver's 200 day moving average at 16.85, then channel resistance at 17.38 should contain topside. The gold/silver ratio remains near its 200 day moving average of 53.08. Now support for the silver is seen at 23041 and below could see a test of 22860. Resistance is now likely to be seen at 23472, a move above could see prices testing 23722.

Trading Ideas:

TRADING RANGE IS 22860-23722.
SILVER IS BELOW 16.56$ CAN FIND THE SUPPORT TILL 16.22-15.96$
SELL SILVER @ 23800-900 SL 24056 TGT 23635-23522-23380-23120.MCX
BELOW 23000 IS BERISH AS 3TIMES PREVIOUSLY MKT HAD JUMP FROM THIS LEVEL.

MCXARUN
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