EquityPandit’s Outlook for Silver for the week  (Nov 26, 2018 – Nov 30, 2018) :

SILVER:

SILVER closed the week on negative note losing around 2.50%.

As we have mentioned last week, that minor support for the commodity lies in the zone of 36500 to 36600. Support for the commodity lies in the zone of 36000 to 36200 where the commodity has taken support in the month of September-2018. If the commodity manages to close below these levels then the commodity can drift to the levels of 35400 to 35600 where the commodity has taken support in the month of July-2017. During the week the commodity manages to hit a low of 35776 and close the week around the levels of 36092.

Support for the commodity lies in the zone of 36000 to 36200 where the commodity has taken support in the month of September-2018. If the commodity manages to close below these levels then the commodity can drift to the levels of 35400 to 35600 where the commodity has taken support in the month of July-2017.

Minor resistance for the commodity lies in the zone of 36500 to 36600. Resistance for the commodity lies in the zone of 37200 to 37400 where Fibonacci levels are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 38000 to 38200 from where the commodity broke down from October-2018 low and Fibonacci levels are lying.

Broad range for the commodity in the coming week can be seen between 35000 – 35200 on downside & 37000 – 37200 on upside.