MCX Silver Intraday Forecast: Today’s Hit 530 Points, Silver 61,270 to 61,270. Trade with Neal Bhai Best MCX Tips Provider in India.
✅MCX Silver Low 61,270👈🏼👈🏼👈🏼
✅530 Points Done💥💥💥
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Optimism surrounding China also allowed Gold buyers to keep the reins.
United States Nonfarm Payrolls will be crucial amid talks of Fed’s 50 bps rate hike in December.
Silver price remains on pressured around intraday low after reversing from multi-day high.
Overbought RSI triggered pullback but bears need validation from three-week-old horizontal support.
XAG/USD bulls will wait for clear break of two-month-old resistance line for re-entry.
Meanwhile, sustained trading beyond the two-month-old ascending resistance line, close to $22.75 by the press time, appears necessary to convince the Silver buyers.
Even so, the $23.00 round figure and May’s high near $23.30 could act as extra filters to the north before giving control to the XAG/USD bulls.