Silver - Oct 20, 2020 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International silver spot prices were flat to marginally weak this Tuesday afternoon in Asian trade ahead of the deadline to reach an agreement on a new U.S. coronavirus stimulus.

Weak dollar is keeping downside capped this Tuesday afternoon.

Technically, LBMA Silver Spot is trading on a muted note where it has bounced back from 21-Daily Moving Average which is placed at $23.93 levels above which indicates a positive breath in the counter. Resistance is placed at $25.20-$25.80 levels and Support is at $24.07-$23.12 levels.

Domestic silver futures on MCX tracked international prices and was trading with small cuts this Tuesday afternoon trade.

Technically, MCX Silver December holds a support near 61050 levels above which will continue its sideways to marginal upside momentum up to 62900-63300 levels.

Source : Equity Bulls

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