MCX Silver is trading relatively lower on MCX and likely to remain slightly negative for the day. If prices breaches the level of 57100 on the downside, silver can touch 56000 level. Major resistance for upside is seen near 58350. Technical indicators are suggesting short selling in Silver for the day. So traders can go for sell in Silver below 57650 for the target of 57300-150.
But 58350 may get back its bullish trend and we can see prices to go up to 59000-59500.
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