Silver gained with gold as the U.S. dollar declined amid easing fears about Greek debt. Silver broke above the top end of yesterday's range before running into the base of the end of the January push higher (near the 18.37 level), before the metal collapsed. From here it looks as though 18.85 may be the next topside resistance to what seems like silver's resurgent fortunes. This surprising outperformance took some of the vigour out of the gold/silver ratio as it has ticked down to 63.17. This now makes us neutral the ratio, though it is still respecting the sharp downtrend off of the mid-February high. Now support for the silver is seen at 27716 and below could see a test of 27689. Resistance is now likely to be seen at 27765, a move above could see prices testing 27787.

Trading Ideas:

Silver trading range is 27689-27787.

Silver gained with gold as the U.S. dollar declined amid easing fears about Greek debt

Silver is taking support at 27620 and resistance is at 27860.

In spot silver looks to have resistance of 18.24$ and support is at 18.46$.

BUY SILVER MAY @ 27800-850 SL 27720 TGT 27895-27960-28050.MCX