MTECHTIPS

MECHTIPS:-SILVER
The silver witnessed another volatile trading session in the last week. The commodity tested levels around 54000 in the week but bounced back from lows to close around 56000 levels.Silver in the last week held below the 200DMA indicating weakness in the commodity. Silver will now face stiff weekly resistance above 56500 levels. Weekly support is seen around 55000 levels and any dip below will open up levels of 54000. We expect volatility to continue in Silver in the coming week.