COMEX Silver moved in bearish
trend in the week under the impact of FOMC statement where FED indicated that
it could raise interest rate in its December meeting & also slashed its
targeted inflation rate to 1.75% from 2%. This pressurized precious metal &
it fallen from higher level. Comex Silver is impacted heavily by the U.S.Dollar
movement & expected to continue so.
For next week, we could observe volatile
trading session where both side movements probable to happen under the
influence of major international economic data & U.S.Dollar movement.
Silver Dec contract having
support near 15.20 to 15.15 ounce. Below 15, next support is near 14.30 &
major support near 14 ounce.
Resistances are near 15.80 to 16 ounce. Above 16.10, next resistance
is near 16.30 ounce. Finally major resistances are near 16.65 ounce.
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