Comex Silver spot has traded back & forth over the course of the week and closed on a indecisive note forming a Doji weekly candle at $36.84 / ounces.
Silver tracked gold higher but outpaced it due to renewed optimism in industrial demand, particularly from solar PV manufacturers as China’s green tech investment picks up. A tightening gold–silver ratio also suggested stronger near-term investor appetite for silver.
Silver had a strong week, closing around 108,438 with sustained bullish momentum. Price action shows consistent breakouts and higher lows, indicating a well-supported uptrend. It recently tested a “Weak High” zone. Volume has picked up, especially on bullish candles, confirming interest from buyers. RSI is at 64.25, above its signal line, suggesting moderate bullish strength. MACD is still in positive territory, although histogram momentum is slightly tapering off, hinting at a possible pause or minor pullback. On technical chart of Gold/Silver ratio take a bounce on major support of 90, which somehow create hurdle to the bullish movement of Silver. Key support zones lie between 105,900 – 102,650, while immediate resistance is near 109,748.
We expect that Silver price may trade with Moderately Bullish trend and traders may look forward for Sell-on-rise opportunity in Silver in upcoming week.
Support 2 | Support 1 | CMP | Resistance 1 | Resistance 2 |
---|---|---|---|---|
102,650 | 105,900 | 108,429 | 109,748 | 110,117 |
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Prediction given by Technical Research Team - Choice.<table border="1" cellpadding="10" cellspacing="0">
<thead>
<tr>
<th>Support 2</th>
<th>Support 1</th>
<th>CMP</th>
<th>Resistance 1</th>
<th>Resistance 2</th>
</tr>
</thead>
<tbody>
<tr>
<td>92,740</td>
<td>95,327</td>
<td>96,996</td>
<td>98,200</td>
<td>100,000</td>
</tr>
</tbody>
</table>
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