Silver Micro Futures: Bullish Momentum Faces Resistance – What’s

Silver Micro Futures: Bullish Momentum Faces Resistance – What’s Next? 🚀
Silver Micro Futures (MCX) is showing strong bullish momentum, currently trading around ₹95,394, with recent price action challenging a key resistance zone near ₹97,869.

🔎 Candlestick Psychology Breakdown:

Recent Rejection at ₹97,869 📉

The highlighted area shows a sharp rejection after testing this major resistance, forming a bearish rejection wick.
This signals strong selling pressure at higher levels, where buyers failed to sustain momentum.
Current Bullish Attempt 📈

Price is stabilizing above support and attempting another push.
The higher lows indicate continued demand, suggesting a possible breakout if bulls gain strength.
🔥 Key Levels to Watch:
✅ Resistance: ₹97,869 (Breakout Confirmation Level)
✅ Support: ₹94,500 (Holding Above = Bullish)
✅ SMA Support: Mid-term trend remains intact as price stays above the 50-day moving average.

💡 Potential Scenarios:
📊 Bullish Case: A daily close above ₹97,869 could trigger a rally toward ₹100,000+ levels.
📊 Bearish Case: Failure to break resistance might lead to a retest of ₹94,500 before another upward move.

📢 Verdict: The market is at a crucial decision point! Watch for a confirmed breakout or a pullback before making your next trade. 📊🚀