Silver opened at 24436 trader sold as the session began, washing out longs, dragging the metal to an intraday low of 24423. Silver later turned bid and good investor demand carried the metal higher for the remainder of the trading day, peaking at 24491. Profit taking during the tail end of the day took the metal lower, finally closing at 24459. now technically market is trading in the range as RSI for 18days is currently indicating 35.16, where as 50DMA is at 26692.24 and silver is trading below the same and getting support at 24424 and below could see a test of 24390 level, And resistance is now likely to be seen at 24492, a move above could see prices testing 24526.

Trading Ideas:

Silver trading range is 24390-24526.

Silver recovered on join rally from base metal and crude oil with taking support above 24000.

Silver has recorded its first up week in the past five, leading to hope that the short term liquidation is over.

Silver holding support above 24000 and resistance will be likely to get at 24680 level.

BUY SILVER MAR @ 24450-475 SL 24370 TGT 24512-24565-24598-24625. MCX

SILVER $ FIX IS AT : 15.33 & CURRENTLY SILVER $ IS TRADING AT : 15.52 & UP BY 0.71%