Silver also recovered on Saturday around half percent tracking gains in gold and base metal prices. Silver fell in last few days of last week due to a concerted bout of profit-taking. Silver prices also fell on reduced offtake at existing higher levels amid weak global cues. Silver is showing as a down week at current 25.97. Silver reached 43174 last week before its deep correction. Down side support is seen at 38480 and at last weeks low of 38000. From a Fibonacci perspective the 38500 level is the 38.2% correction of our 35000 to 37000 three month move. Now support for the silver is seen at 38757 and below could see a test of 38104. Resistance is now likely to be seen at 40307, a move above could see prices testing 41204.

Trading Ideas:

Silver trading range is 38104-41204.

Silver also recovered on Saturday tracking gains in gold and base metal prices

Silver is having resistance at 30680 and support at 38180 level.

In spot silver looks to have a support at 25.78$ and resistance at 26.24$