

COMEX Silver started the week on a volatile note, initially recovering from last week’s pressure and gaining +6.3% after taking support at $49.36. Mid-week, prices faced sharp profit-booking from the high of $52.46, correcting by –7.2% and making a low of $48.63. The weekly close came in at $49.98, forming a doji candlestick on the weekly chart, indicating indecision and balanced momentum between buyers and sellers. Key support for the coming sessions is seen around $48.31–$45.56, while resistance is placed at $50.50–$54.40. The overall structure remains stable, with broader trend direction likely influenced by price behavior near these key levels.
MCX Silver recovered steadily from lower levels during Friday’s session, gaining +2.2% from 150,350 as the Rupee hit a record low, and the contract closed the week at 154,151. This recovery keeps prices firmly above the 20, 50, 100, and 200 DEMA levels at 152,789; 145,800; 135,316; and 123,165 respectively. Daily indicators reflect a neutral-to-positive momentum setup, with RSI at 54.91 rebounding toward mid-range levels, while the signal line at 57.23 shows mild consolidation. Open Interest (OI) declined by around 2,000 lots over the week, signaling long unwinding rather than fresh buying pressure. The trend remains constructive as long as prices sustain above near-term supports, although rejection from overhead resistance may trigger short-term corrective moves.
The Gold–Silver Ratio (Mint Ratio) increased by +5.7% over the week and marking a high at 82.93, with immediate resistance placed at 83.9–85.11; if prices sustain at these levels, silver prices can see in pressure with volatility.
Overall, the trend in silver remains positively biased, with crucial support zones holding firm. Traders should remain cautious near support and watch for any rejection from resistance levels, which could lead to renewed selling pressure. Sustaining above key moving averages while monitoring volatility and momentum indicators will be essential for directional clarity in the near term.
| Support 2 | Support 1 | CMP | Resistance 1 | Resistance 2 |
|---|---|---|---|---|
| 150,350 | 152,780 | 154,052 | 156,690 | 160,000 |
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Prediction given by Technical Research Team - Choice.



