Silver recovered its losses to end slightly down tracking firmness in crude oil prices. Silver opened the day at 27712 and traded higher to an intraday high of 27948. Silver traded in line with crude down. Crude, having reversed its decline on news of unexpected lower supply data coupled with Palladium reaching a new 2 year high saw Silver rebound to close up at 27831. Now support for the silver is seen at 27713 and below could see a test of 27594. Resistance is now likely to be seen at 27949, a move above could see prices testing 28066.

Trading Ideas:

Silver trading range is 27594-28066.

Silver recovered its most losses tracking firmness in crude oil prices

Silver is taking resistance at 27960 and support is at 27680.

In spot silver looks to take support at 18.28$ and resistance at 18.56$.

WAIT FOR FRESH ENTRY AS IMP RESISTANCE IS AT 28056 BELOW THIS LOOK WEAK.