Commodity Outlook for Silver by KediaCommodity

SilverSilver yesterday ended higher tracking firmness in gold prices as prices rose on worries about credit issues in Europe and tensions on the Korean peninsula. Silver opened at 28727, pulled down by sagging base metals that were hit by continuing ambiguity on the effects of Europe’s crisis on the global economic recovery. The commodity fell to a low of 28563 early in trading before steadily recovering. Silver hit a peak of 28935 before closing the day a at 28912.Now support for the silver is seen at 28672 and below could see a test of 28431. Resistance is now likely to be seen at 29044, a move above could see prices testing 29175.

Trading Ideas:

Silver trading range is 28431-29175.

Silver yesterday ended higher tracking firmness in gold prices

Silver is taking resistance at 29040 and support is at 28780.

In spot silver looks to have a support at 17.66$ and resistance is at 18.02$.

BUY SILVER JUL @ 28700-750 SL 28580 TGT 28840-28920-29056.MCX