Silver daily chart has formed “Megaphone chart” pattern. The last few sessions ended up bearish in trend near an interim trend line inside the channel. As per the technical aspects of the pattern, the market is expected to retest the same and turn bullish, which upside rally could be testing all the way through 37050-37300 and furthermore levels in the upcoming sessions. Alternatively, if the market breaks below the key support holding at 36750 then it might continue in bearish momentum. The downside rally could test 36500-36300 levels. Key resistance holds at 37500.
Research Report call: