Silver yesterday moved in the long range of 350 points on Monday we have seen market opened the day at 27034 and began the session range trading, touching an intraday low of 26806 as pressure came from the base metal counter where all the base metal where down by almost 2% on mcx some support had been seen due to re weakness also where we have seen re touching the fresh low at 44.73 level but as the day progress equities recovered with base metal also supported the Silver and manage to reached an intraday high of 27146. Quiet late session trading saw the metal close at 27112.now technically market is trading in the range as RSI for 18days is currently indicating 51.87, where as 50DMA is at 26801 and silver is trading above the same and getting support at 26897 and below could see a test of 26681 level, And resistance is now likely to be seen at 27237, a move above could see prices testing 27361.

Trading Ideas:

Silver trading range is 26681-27361.

Silver bounced from its overnight lows on apparent bargain hunting

Silver is taking resistance at 27220 and support is at 27000.

In spot silver looks to take support at 17.62$ and resistance at 17.94$.

BUY SILVER MAY @ 26980-27040 SL 26880 TGT 27100-27180-27265.MCX