Silver ended higher following higher gold prices. The metals gained as oil prices climbed after inventory data and the dollar fell before Federal Reserve's interest rate announcement. Silver opened at 27297 and traded quietly showing the market’s indecisiveness to pick a direction, touching a low of 27251.

Stronger oil and base metals along with rallying equity markets helped silver pull itself from its lows. The buying continued as the session progressed, lifting silver to a high of 27719 before it retreated. It turned support near 27570 and made back lost ground at the latter end of the day, finally settling at 27615. Now support for the silver is seen at 27338 and below could see a test of
27060. Resistance is now likely to be seen at 27806, a move above could see prices testing 27996.

Trading Ideas:

SILVER TRADING RANGE IS 27100-28100.

SILVER ENDED HIGHER FOLLOWING HIGHER GOLD AND CRUDE OIL PRICES

SELL SILVER MAR BELOW 27550 SL 27640 TGT 27485-27422-27330-27210. MCX

NOW SILVER LOOKS TO TAKE SUPPORT AT 27480 AND RESIST AT 27740 LEVEL.

SOME JUMP CAN BE SEEN TILL 27750 LEVEL BUT OVER LOOKS WEAK.