MCX Trade Tips

Silver closed the session through a cut of close to 1%. Silver closed below at the Rs. 52240 levels. Failure to close above this key near term average will see silver prices progressively testing downside levels of Rs. 51701.47 levels. Whole price Silver structure remains bearish and traders must use pullback rallies towards resistances for holding short positions. The Rs. 52612 —Rs. 53040.89 levels are very firm resistance for silver.