MCX Silver June future opened in negative with 76 points down in today's morning trade. MCX Silver June contract opened at 56511 rupees and stays almost sideways to bearish and now trading near its support level of 56000.
Silver is within striking distance of breaking the levels of 55700 which is psychological level and . In earlier week, it tested levels around 56000 and managed to close above it. This time it might break that level considering that the bounce off from last week support of 56033 didn't give a meaningful rally and sell off started as early as this week.
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