Silver finished sharply higher with gold. Silver held back some lately by dollar gains, but were able to sustain chart momentum as the dollar started easing during the latter stages of the session. Others also cited stronger crude oil as a factor helping the metals. Now technically market is trading in the range as RSI for 18days is currently indicating 58.96, where as 50DMA is at 26417 and silver is trading above the same and getting support at 26125 and below could see a test of 25558 level, And resistance is now likely to be seen at 27023, a move above could see prices testing 27354. Spread between Silver MAY & JUL contacts yesterday ended at 226, we have seen yesterday that the silver market had traded with a positive node and settled 2.48% up. Spread yesterday traded in the range of 113 - 226.

Trading Ideas:

Silver trading range is 25558-27354.

Silver yesterday ended higher tracking rise in gold and copper prices.

Silver is taking support at 26540 and resistance at 26860 level.

In spot silver is having support at 16.78$ and resistance is at 17.16$.

SELL SILVER MAY @ 26750-26800 SL 26920 TGT 26690-26580-26510.MCX