Silver settled near steady even though gold was down more notably. The higher dollar was pressuring the metals. But silver lost less ground in percentage terms than gold. Silver opened at 26926 and rallied on the back of the weaker USD, finding resistance near 27000. An advancing USD and weaker oil inspired dealers to sell the metal, dragging silver to a low 26641.

However the metal was resilient, climbing from its lows on the back of stronger oil prices, reaching an intraday high of 27093. A mild correction as the day unwound, pulled it lower and finally settled at 27004. Now support for the silver is seen at 26732 and below could see a test of 26461. Resistance is now likely to be seen at 27184, a move above could see prices testing 27365.

Trading Ideas:

SILVER TRADING RANGE IS 26500-27500.

SILVER YESTERDAY AS PER JUMPED FROM ITS LOWS TO SETTLE STEADY AS GOLD REBOUNCE

NOW SILVER LOOK TO TAKE SUPPORT AT 26880 AND RESIST AT 27160 LEVELS.

SILVER BELOW 17$ MARK SUPPORT IS AT 16.65$

SELL SILVER MAR @ 27125-27160 SL 27265 TGT 27020-26935-26870-26790.MCX