EquityPandit’s Outlook for Silver for the week  (Sep 18, 2017 – Sep 22, 2017) :

SILVER:

SILVER (40814) closed the week on negative note losing around 1.80%.

Support for the commodity lies in the zone of 40600 to 40700 from where the commodity broke out of June-2017 highs and Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 40000 to 40100 where 200 daily moving averages are lying.

Minor resistance for the commodity lies in the zone of 41500 to 41600. Resistance for the commodity lies in the zone of 42000 to 42200 where Fibonacci levels are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 42500 to 42600 where long term Fibonacci levels are lying.

Broad range for the commodity in the coming week can be seen between 40000 – 40200 on downside & 42000 – 42200 on upside.