ilver fell in sympathy with a decline in gold, in turn due to position-squaring and a stronger U. S. dollar. Now technically market is trading in the range as RSI for 18days is currently indicating 41.13, where as 50DMA is at 27786 and silver is trading below the same and getting support at 26506 and below could see a test of 26355 level, And resistance is now likely to be seen at 26904, a move above could see prices testing 27151.

Spread between Silver MAR & MAY contracts yesterday ended at 176, we have seen yesterday that the silver market had traded with a negative node and settled -1.47% down. Spread yesterday traded in the range of 51 - 240.

Trading Ideas:

Silver trading range is 26200-27100.

Silver fell along with gold due to position-squaring and a stronger U. S. dollar

Silver is having resistance at 26880 and support at 26520 level.

In spot silver is having support at 16.68$ and resist is at 16.98$.

SELL SILVER MAR @ 26940 SL 27090 TGT 26862-26810-26742-26680.MCX