EquityPandit’s Outlook for Silver for the week  (Mar 26, 2018 – Mar 28, 2018) :

SILVER:

SILVER closed the week on positive note gaining around 1.30%.

As we have mentioned last week, that support for the commodity lies in the zone of 38300 to 38400 from where the commodity broke out on intraday basis. If the commodity manages to close below these levels then the commodity can drift to the levels of 37500 to 37600 where the commodity has formed a short term bottom. During the week the commodity manages to hit a low of 38101 and close the week around the levels of 38863.

Support for the commodity lies in the zone of 38300 to 38400 from where the commodity broke out on intraday basis. If the commodity manages to close below these levels then the commodity can drift to the levels of 37500 to 37600 where the commodity has formed a short term bottom.

Resistance for the commodity lies in the zone of 39500 to 39600 from where the commodity has broken down. If the commodity manages to close above these levels then the commodity can move to the levels of 40200 to 40300 where the commodity has formed a top in the month of January-2018.

Broad range for the commodity in the coming week can be seen between 38000 – 38200 on downside & 39800 – 40000 on upside.