Silver Micro Futures – Technical Analysis (Daily Chart)
Summary:
Price Action:
A symmetrical triangle breakout has occurred on the upside, indicating a potential bullish continuation.
Current Price: ₹100,168
Breakout candle has strong bullish volume and closed above resistance.
RSI (Relative Strength Index):
RSI has broken out of a downward trendline and is currently around 63.44, suggesting renewed bullish momentum without being overbought yet.
Key Technical Signals:
Pattern: Symmetrical triangle breakout (bullish).
Volume: Likely increasing on breakout candle (strong signal).
RSI: Bullish divergence and breakout confirms strength.
Support Zone: ₹96,000 to ₹92,000
Next Target Zone: ₹104,000 to ₹108,000+
Conclusion:
Bullish Bias – Strong breakout both in price and RSI. A continuation rally is likely unless price re-enters the triangle. Keep stop loss near ₹96,000 for long positions.
Summary:
Price Action:
A symmetrical triangle breakout has occurred on the upside, indicating a potential bullish continuation.
Current Price: ₹100,168
Breakout candle has strong bullish volume and closed above resistance.
RSI (Relative Strength Index):
RSI has broken out of a downward trendline and is currently around 63.44, suggesting renewed bullish momentum without being overbought yet.
Key Technical Signals:
Pattern: Symmetrical triangle breakout (bullish).
Volume: Likely increasing on breakout candle (strong signal).
RSI: Bullish divergence and breakout confirms strength.
Support Zone: ₹96,000 to ₹92,000
Next Target Zone: ₹104,000 to ₹108,000+
Conclusion:
Bullish Bias – Strong breakout both in price and RSI. A continuation rally is likely unless price re-enters the triangle. Keep stop loss near ₹96,000 for long positions.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.