Silver closed lower with gold as the dollar strengthened, yet may now be around an area where it will draw bargain hunting. Silver is putting in a very bearish week at current 17.16 compared to last Fridays 18.50. Last weeks 19.46 high appears to have been an overshoot move. We see initial support at 16.87 from 23.6 Fibo and trend line support. A break opens 16.24 the June high. The Gold Silver ratio is closing up at 65.03 this week compared to last Fridays 62.56.

This is the first close above 64.14 since August. While the ratio is above 64.14, we see risk to 66.75. Now support for the silver is seen at 26978 and below could see a test of 26912. Resistance is now likely to be seen at 27104, a move above could see prices testing 27164.

Trading Ideas:

SILVER TRADING RANGE IS 26600-27450.

SILVER CLOSED LOWER LAST WEEK WITH GOLD AS THE DOLLAR STRENGTHENED

BUY SILVER MAR ABV 27150 SL 27060 TGT 27220-27275-27380. MCX

SUPPORT FOR SILVER IS AT 26860 AND RESIST IS AT 24180.

NOW IMPORTANT IS 17.00$ BELOW THIS SOME PRESSURE CAN BE SEEN