Silver is also showing it's second strong up week at its current level of 25513. Silver suffered a dramatic drop in January from 18.85$ to 14.68$, so the bounce is proving equally impressive as support had been seen from the base metal counter and crude oil bouncing back on economic bright outlook.

The Gold Silver ratio is closing the week at 68.57. The ratio remains near the top of our one month 61 to 71 range, so risk is for a move lower in the ratio next week. Now technically market is trading in the range as RSI for 18days is currently indicating 48.45, where as 50DMA is at 26407 and silver is trading below the same and getting support at 25469 and below could see a test of 25425 level, And resistance is now likely to be seen at 25553, a move above could see prices testing 25593.

Trading Ideas:

Silver trading range is 25425-25593.

Silver is also with gold ended it's second strong up week at 16.36$.

Silver is taking support at 25380 and resistance at 25640 level.

Spread between Silver MAR & MAY contracts traded in the range of 186 - 191.

BUY SILVER MAR @ 25500-540 SL 25380 TGT 25595-25640-25712-25780.MCX