Silver settled flat along with gold prices. The metals often move in the same direction. Market participants tend to buy both metals for similar investment purposes Silver opened 27590 and rallied on the back of stronger oil and copper prices, peaking at 27682. However the metal quickly turned offer and slipped off its highs, falling to a low of 27392.

Light investor demand carried the metal higher during the latter end of the session and later closed at 27526. Now support for the silver is seen at 27385 and below could see a test of 27243. Resistance is now likely to be seen at 27675, a move above could see prices testing 27823.

Trading Ideas:

SILVER TRADING RANGE IS 27000-28000.

SILVER SHOWED SOME POSITIVE TRADING TRACKING HIGHER COPPER AND OIL PRICES

SILVER STILL LOOKING STRONG ABOVE 27080 LEVEL AS SUPPORT HAD BEEN SEEN FROM BASEMETAL

IN SPOT SILVER IS HAVING SUPPORT AT 17.36$ AND RESIST IS AT 17.62$.

SELL SILVER MAR @ 27640 SL 27760 TGT 27545-27490-27432-27365.MCX