Silver recovered most of its losses tracking recovery in gold and copper prices. Markets gained support from a lower dollar, higher equities and strong housing numbers. Now technically market is trading in the range as RSI for 18days is currently indicating 66.6, where as 50DMA is at 26173 and silver is trading above the same and getting support at 27246 and below could see a test of 27074 level, And resistance is now likely to be seen at 27559, a move above could see prices testing 27700. Spread between Silver MAY & JUL contacts yesterday ended at 197, we have seen yesterday that the silver market had traded with a negative node and settled -0.01% down. Spread yesterday traded in the range of 196 - 209.

Trading Ideas:

Silver trading range is 27074-27700.

Silver recovered most of its losses tracking recovery in gold and copper prices.

Silver is taking support at 27280 and resistance is at 27540.

In spot silver looks to have resistance of 18.16$ and support is at 17.92$.

SILVER $ FIX IS AT : 17.69 & CURRENTLY SILVER $ IS TRADING AT : 17.95 & DOWN BY -0.55%

SELL SILVER MAY BELOW 27360 SL 27460 TGT 27300-27225-27160.MCX