Silver bounced from its lows on Monday after holding chart support on a retreat last week. Now technically market is trading in the range as RSI for 18days is currently indicating 39.51, where as 50DMA is at 27709 and silver is trading below the same and getting support at 26676 and below could see a test of 26540 level, And resistance is now likely to be seen at 26948, a move above could see prices testing 27084. Spread between Silver MAR & MAY contracts yesterday ended at 257, we have seen yesterday that the silver market had traded with a positive node and settled 0.27% up. Spread yesterday traded in the range of 225 - 257.

Trading Ideas:

Silver trading range is 26400-27200.

Silver bounced from its lows on Monday after holding chart support

Support for the silver is at 26680 and resistance at 26940 level.

Silver holdings in Zurich Cantonal Bank were 0.05% lower at 60.314 million ounces.

BUY SILVER MAR @ 26880 SL 26780 TGT 26940-26990-27056.MCX