Silver ended flat after rising along with the higher copper and crude prices. The gold/silver ratio has fallen below 66 after it was above 70 in January. There has been good fund buying of the metal, as well as exchange-traded-fund. Now technically market is trading in the range as RSI for 18days is currently indicating 58.84, where as 50DMA is at 26324 and silver is trading above the same and getting support at 26995 and below could see a test of 26955 level, And resistance is now likely to be seen at 27075, a move above could see prices testing 27115. Spread between Silver MAY & JUL contacts yesterday ended at 191, we have seen yesterday that the silver market had traded with a negative node and settled -0.04% down. Spread yesterday traded in the range of 183 - 235.

Trading Ideas:

Silver trading range is 26955-27115.

Silver yesterday rose along with the higher copper and crude prices

Silver is taking support at 26910 and resistance at 27140 level.

The gold/silver ratio has fallen below 66 after it was above 70 in January.

BUY SILVER MAR @ 26950-990 SL 26820 TGT 27045-27130-27220. MCX