Silver prices rose following strength in base metal prices which was fueled by concerns over civil unrest in Egypt. Silver is holding support at 43250 level a break below could test 42800-42500 level. Silver began the day at 43170, making a dip to an intraday low 42782. Rallying base metals and crude saw gold reach an intraday high of 43824. Quiet profit taking saw the metal to its close 43640. Now technically market is trading in the range as RSI for 18days is currently indicating 49.79, where as 50DMA is at 44166.98 and silver is trading below the same and getting support at 43007 and below could see a test of 42373 level, And resistance is now likely to be seen at 44049, a move above could see prices testing 44457.

Trading Ideas:

Silver trading range is 42373-44457.

Silver yesterday ended higher on short covering and tracking higher base metal prices.

Silver looks to take support at 43420 level and resistance at 43820 level.

In spot silver looks to get resistance at 28.40$ and support at 27.88$ level.

BUY SILVER MAR @ 43400-460 SL 43200 TGT 43580-43700-43850.MCX

Silver $ FIX is at : 27.75 & CURRENTLY SILVER $ IS TRADING AT : 28.19 & UP BY 0.5%