Silver technical analysis

Silver has been bearish since mid-February 2019. Over the next two weeks, the probability of it touching $14 to $14.2 is very likely. Only if it closes above $15.3 on a daily basis will this probability be negated. The level of $14 to $14.2 will decide the next course of silver over the year 2019. The level of $14.8 to $14.85 is providing good support to silver. A break of this level is likely to happen over the next couple of weeks. 

If this level holds then the much-awaited bull market in silver will start.

Where is nickel headed?

Nickel on the MCX exchange has been stuck in the range of  Rs.882 and Rs.927 for the last one month, with buying coming in around 880 levels and selling around 928 levels. A big move is expected. Which way is the big question? Either way, the move will be a minimum of Rs.50. A sustainable fall below 882 and through 872 can take the contract to 857 first and then 826. A strong move above 927 can take the contract to 950 and higher. With trade talk news in the background, creating moves in the market, better to be cautious on shorts.

Disclaimer- These are the views of the writer. The writer is not liable for any outcome on trades based on these views.