Silver rose with gold on a day the dollar softened. Technically, buying was encouraged by the ability of the silver to hold 26900 level. Now technically market is trading in the range as RSI for 18days is currently indicating 55.43, where as 50DMA is at 26001 and silver is trading above the same and getting support at 26812 and below could see a test of 26690 level, And resistance is now likely to be seen at 27048, a move above could see prices testing 27162. Spread between Silver MAY & JUL contacts yesterday ended at 206, we have seen yesterday that the silver market had traded with a positive node and settled 0.39% up. Spread yesterday traded in the range of 140 - 206.

Trading Ideas:

Silver trading range is 26690-27162.

Silver rose with gold on a day the dollar softened

Silver is taking support at 26780 and resistance is at 27060.

Silver MAY & JUL contracts yesterday traded in the range of 140 - 206.

BUY SILVER MAY @ 26850-880 SL 26780 TGT 26935-26980-27056.MCX