Silver lost its shine after rate hike by the ECB. After hitting an intraday low of $64.06, it’s currently hovering near $64.10.
|
Technicals |
CMP -$63.87 |
Trend |
|
|
4- Hour chart |
Value |
|
|
|
55 EMA |
$66.57 |
CMP < 55 EMA |
Bearish |
|
200- EMA |
$66.36 |
CMP < 200- EMA |
Bearish |
|
365- EMA |
$66.07 |
CMP <365 EMA |
Bearish |
Major support- $63.70. Any violation below targets $63/$62.40/$60.95/$60.Near-term resistance - $65/$65.45/$66.560/$68.20.
|
Momentum indicator (4-hour chart) |
Inference |
Value |
|
CCI(50) |
Bearish |
-106.60 |
|
ADX |
Bearish |
Strength increased from 17.36 to 18.32 |
It is good to sell on rallies around $64.48-50 with SL around $66 for a TP of $60.
