MCX Silver MCX Silver closed slightly lower on Monday, drove by the financial consequence of the coronavirus epidemic in China. As of now investors are much worried about the economic effect of the coronavirus, also on business gush and consumer demand. Apple is one of the major Western firms to be upset by the widespread. It said industrial services in China that produce iPhone and other electronics have initiated to reopen, but they are ramping up more slowly than projected. The death toll from the virus in mainland China rose by 98, even as its spread reduced with the number of new cases dropping below 2,000 as of Monday.
MCX Silver closed 0.23% lower at 46123 on Monday it opened marginally gap up at 46380 during session it made a high of 46440 and low of 46021 levels. As per Bollinger band on the hourly chart Silver is closed below median line and it made a low near its lower standard deviation line. On hourly charts RSI is at 56.10 which indicate positivity in silver prices. Today Silver can be trade in the range of 46050 to 46750 during the session.