Silver firmed up on good speculative driven buying coupled with better industrial offtake. Rise in gold and copper prices also supported silver prices to settle firm. U. S. silver imports fell 21.7% in September from the previous month, but was up 30.7% from the previous year, the Commerce Department reported. Silver opened at 39307 dipping to its low of 39100 shortly after the open. Gains in base metals saw silver rise, reaching its high of 39970. Profit taking saw the metal lower, eventually closing the day at 39610. Now technically market is trading in the range as RSI for 18days is currently indicating 61.05, where as 50DMA is at 35632.58 and silver is trading above the same and getting support at 39150 and below could see a test of 38690 level, And resistance is now likely to be seen at 40020, a move above could see prices testing 40430.

Trading Ideas:

Silver trading range is 38690-40430.

Silver firmed up on good speculative driven buying tracking firmness in gold and copper prices

Silver is having resistance at 39780 and support at 39380 level.

U. S. silver imports fell 21.7% in September from the previous month