Silver rose with gold as the dollar weakened following an announcement by the Greek government on how it intends to deal with budget deficits. Now technically market is trading in the range as RSI for 18days is currently indicating 60.59, where as 50DMA is at 26407.98 and silver is trading above the same and getting support at 26682 and below could see a test of 26391 level, And resistance is now likely to be seen at 27172, a move above could see prices testing 27371.

Spread between Silver MAY & JUL contacts yesterday ended at 191, we have seen yesterday that the silver market had traded with a positive node and settled 1.06% up. Spread yesterday traded in the range of 131 - 211.

Trading Ideas:

Silver trading range is 26391-27371.

Silver yesterday rose with gold as the dollar weakened

Silver is taking support at 26830 and resistance at 27090 level.

In spot silver is having support at 16.86$ and resistance is at 17.28$.

SELL SILVER MAY @ 26940 SL 27070 TGT 26870-26810-26740.MCX