Silver gained despite choppy gold trade. Participants were buying back previously sold positions in the gray metal as they were squaring up for the year end. Silver is unchanged from previous close at 17.41. The seven down days from 19.46 to 16.93 still cast a shadow over the market. Our view is that the metal is consolidating before attempting another leg lower to 16.13. Only a close back above 17.68 changes that view. Gold Silver ratio continues to drift lower from the 65.16 area. The ratio is currently at 64.53 with major support seen at 64.14.Now support for the silver is seen at 27083 and below could see a test of 26847. Resistance is now likely to be seen at 27476, a move above could see prices testing 27633.

Trading Ideas:

SILVER TRADING RANGE IS 26800-27800.

SILVER GAINED AS PARTICIPANTS WERE BUYING BACK PREVIOUSLY SOLD POSITIONS

SELL SILVER MAR BELOW 27300 SL 27412 TGT 27241-27190-27070.MCX

OVERALL WE TGT SILVER AT 16.80$

IMPORTANT IS 27000 MARK BELOW THIS SOME PRESSURE CAN BE SEEN