Silver price rose 31.3 cents to close the week at 18.76 up only 38.3 cents and 1.8% this week versus gold's 3.5% jump. Silver's is getting pressure due to sell off in the base metal counter. Silver opened at 28400 and traded erratically within a range. Initial strength in the USD, was enough to convince investors to dump the metal, dragging it to a low of 28380.

It recovered on the back of strong oil prices, peaking at 28631. It ticked sideways as the session unwound, finally closing at 28582. now technically market is trading in the range as RSI for 18days is currently indicating 66.81, where as 50DMA is at 27169.62 and silver is trading above the same and getting support at 28435 and below could see a test of 28185 level, And resistance is now likely to be seen at
28837, a move above could see prices testing 28989.

Trading Ideas:

SILVER TRADING RANGE IS 28000-29000.

SILVER YESTERDAY ENDED HIGHER ON RISING GOLD PRICES

SELL SILVER DEC BELOW 28600 SL 28722 TGT 28520-28465-28400-28340. MCX

A BREAK BELOW 18$ WILL MOVE THE MARKET IN THE BERISH ZONE

SILVER ABV 18.94$ LOOKS TILL 19.16$ ELSE SUPPORT IS AT 18.64$ LEVEL