Technical view by Nooresh

Silver – On verge of a Major Breakout.

Personally i am totally into equities but one of our ex students Praveen Gupta brought this Silver chart to my notice.

Technically it seems Silver has just given a possible medium term breakout and could target a nice 10-15% jump in coming few weeks. My tracking of commodities is only of academic nature but the chart below suggests a clean breakout.



Seems headed to 22 + in short to medium term.



MCX Silver headed to 3350-3400. Buy in dips to 3100-3050 with a stoploss of 2990. ( Dont know if this is too deep a stoploss for commodity traders but clearly a buy on dips)

MCX traders can also have a look into who writes on Commodities.




Do your own research :)





Article by Nooresh Merani

Nooresh has written 2531 articles.

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{ 2 comments… add one }
  • shila September 15, 2010, 09:21

    Hi sir
    Silver Close @ 31964 plz send mcx level and tgt

  • PRAVEEN KUMAR GUPTA September 15, 2010, 14:48

    Dear Nooresh,
    Thanks for your good analysis and confirmation on silver. To me it looks silver will make all time high in the history of silver and people will never have thought of.


    Praveen K Gupta


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