Silver was slightly lower after initially rallying 2 percent on news that sales of U. S. Mint American Eagle silver coins rose to a record in January. The dollar fell to an eight-week low against the euro on growing hopes euro zone officials will navigate the sovereign debt crisis. Silver prices are down about 7 percent in January that is enough to attract buyers seeking exposure in precious metals and those who expect industrial demand for silver to grow. Now technically market is trading in the range as RSI for 18days is currently indicating 50.72, where as 50DMA is at 44089.38 and silver is trading above the same and getting support at 44033 and below could see a test of 43766 level, And resistance is now likely to be seen at 44769, a move above could see prices testing 45238.

Trading Ideas:

Silver trading range is 43766-45238.

Silver was slightly lower after rallying on news that sales of U. S. Mint American Eagle silver coins rose

Silver looks to take support at 44080 level and resistance at 44480 level.

Holdings at ishares silver trust fell by 10.63 tonnes to 10575.32 tonnes.