MCX Silver: Symmetrical Triangle completed

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 MCX Silver daily continuous contract


Prices which were moving in a sideways consolidation pattern from August 2020 till dats looks to be on the brink to be completed. MCX Silver has eventually completed symmetrical triangle pattern after its wave e got completed at 73078 levels.

Now there are high chances that the bullion cum commercial metal will slump from current levels. To understand lets us jump to the advance technical analysis. 

As per Elliott Wave prices were moving in a symmetrical triangle and prior August 2020, the bullion was moving in a complex corrective pattern. This triangle looks to be the last leg of the ongoing upmove and will reverse going ahead.

I have previously had written an article on MCX Silver, to view it click on the link

https://www.marketanalysiswithmeghmody.com/2022/02/mcx-silver-in-symmetrical-triangle.html

The summation is MCX Silver is poised to falter till 50000 levels over short to medium term.

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