Silver gained with copper and crude oil as the U.S. dollar sank and commodities in general were up. Stronger global manufacturing data added to the bullish tone. Now technically market is trading in the range as RSI for 18days is currently indicating 67.5, where as 50DMA is at 26106 and silver is trading above the same and getting support at 27324 and below could see a test of 27226 level, And resistance is now likely to be seen at 27493, a move above could see prices testing 27564. Spread between Silver MAY & JUL contacts yesterday ended at 191, we have seen yesterday that the silver market had traded with a positive node and settled 0.34% up. Spread yesterday traded in the range of 190 - 260.

Trading Ideas:

Silver trading range is 27226-27564.

Silver gained with copper and crude oil as the U.S. dollar sank

Silver is taking support at 27290 and resistance is at 27560.

In spot silver looks to have resistance of 18.08$ and support is at 17.76$.

BUY SILVER MAY @ 27200-250 SL 27090 TGT 27360-27422-27500.MCX