Silver is completing its third down week in a row at its current level of 16.21. The weekly Silver chart shows a large Head and Shoulders pattern with Neckline broken up at 17.04 this week. The measured move on this pattern is 14.34. Expect 16.76 to hold any retracements. The Gold Silver ratio is showing its second strong up week in a row at the current level of 66.67. The ratio is closing above the multi month high of 65.12 opening the door for a move to 68.15 and 71.16 which is the 38.2% and 50% retracement levels of our 83.90 to 58.41 down move. Now support for the silver is seen at 25462 and below could see a test of 25423. Resistance is now likely to be seen at 25557, a move above could see prices testing 25613.

Trading Ideas:

Silver trading range is 25100-25900.

Silver also along with gold completed its 3rd down week at 16.21$.

Support for the silver is at 25380 and resistance at 25630 level.

In spot silver is having support at 16.00$ and resistance is at 16.30$.

SELL SILVER MAR BELOW 25470-500 SL 25690 TGT 25390-25342-25290-25180. MCX