Silver settled marginally higher as bullish momentum for the metal slightly outweighed pressure from a stronger dollar. The metal was also somewhat supported along with copper from faster-than-expected growth in Chinese GDP. Silver opened the day at 27820, dipping on economic data to an intraday low of 27655. Buying emerged as equities recovered taking the metal to an intraday high of 27950. Quiet trading in the afternoon session took Silver to its close of 27855.  Now support for the silver is seen at 27690 and below could see a test of 27525. Resistance is now likely to be seen at 27985, a move above could see prices testing 28115.

Trading Ideas:

Silver trading range is 27525-28115.

Silver settled marginally higher as bullish momentum slightly outweighed from stronger dollar

Silver is taking resistance at 27980 and support is at 27720.

In spot silver looks to take support at 18.26$ and resistance at 18.54$.

SELL SILVER MAY BELOW 27830 SL 27894 TGT 27790-27740-27690.MCX