Silver rose along with gold prices. The precious metals gained ground as the U.S. dollar weakened. he dollar came under increased pressure after the Commerce Department said that sales of single-family homes decreased more than expected. Now technically market is trading in the range as RSI for 18days is currently indicating 42.12, where as 50DMA is at 27685 and silver is trading below the same and getting support at 26860 and below could see a test of 26675 level, And resistance is now likely to be seen at 27160, a move above could see prices testing 27275. Spread between Silver MAR & MAY contracts yesterday ended at 157, we have seen yesterday that the silver market had traded with a positive node and settled 0.15% up. Spread yesterday traded in the range of -10 - 161.

Trading Ideas:

SILVER TRADING RANGE IS 26500-27500.

SILVER YESTERDAY PARED ITS LOSSES ON RISING CRUDE AND COPPER PRICES

SILVER LOOK TO TAKE SUPPORT AT 26820 AND ABOVE THIS LOOK TILL 27360 LEVELS.

SILVER PRODUCTION IN PERU FELL 1.5% TO 326,283 KILOGRAMS.

BUY SILVER MAR @ 26950-27000 SL 26800 TGT 27080-27156-27240-27322.MCX