MCX Silver: MCX Silver prices soars on Monday, more than 5% jump in the last session after the U.S. Federal Reserve announced extraordinary actions to support an economy which is revolving from the coronavirus pandemic. For the very first time, the Fed will back purchases of corporate bonds, backstop direct loans to companies and will "soon" roll out a program to get credit to small and medium-sized business. Asian shares were set to rally as the U.S. central bank pledged to help the economy from a fallout. President Donald Trump said on Monday he is considering how to reopen the U.S. economy when a 15-day lockdown ends next week, even as the coronavirus spreads quickly. An extensive virus economic spur package persisted stalled in the U.S. Senate on Monday as Democrats said it confined too little money for states and hospitals and not adequate limitations on a fund to help big businesses.
MCX Silver rose more than 5.75% and closed at 37912 on Monday as Silver opened gap up at 36409 during session it made a high of 38099 and made low of 35700 during the day. As per Bollinger band Silver is closed above upper standard deviation line and during the whole day it there was very heavy movement seen in the silver. On hourly charts RSI is at 78.97 which indicate positivity in the silver prices. Today Silver can be trade in the range of 37890 to 40800 during the session.