Today after Holi festival Commodity (MCX NCDEX) Exchange seeing at Negative side, In MCX Market whole Commodity follow bearish trend, all Base Metals looking at Negative side and in MCX main commodity which is traded mostly is Gold and Silver, both are traded bearish side, and on Tuesday Market Gold and Silver both are also in Red Side, Only COTTON seeing in Positive side at10:30 AM. CRUDE OIL Currently shows in Up and down Position but our prediction says Crude oil jump in positive side.
Silver chart since the middle of 2011 till now was in a downtrend accompanied with price reformation that sellers were successful in achieving the lowest price of 18.213.Right now price is above 5-day moving Daily and H4 time frames that show an uptrend during the next candles.By formation of Morning Star( With 2 Stars) candlestick pattern on 7,10,11 and 12th days in daily time frame, there is a warning(R=S) for the first failure of sellers in achieving lower prices and formation of a bottom price for increasing of the price in this area.
As it is obvious in the picture below, there is non-ideal AB=CD pattern between the top price of 22.173 and the bottom price of 20.589 that there is a potential for ceasing of price from D point of this pattern. Stoch indicator is in saturation sell area and divergence mode with the price chart that confirms the current bottom price and warns about ascending of price during the next candles. Generally until the price level of 20.589 is preserved, price will have the potential for reformation and ascending.