Silver opened the day at 27150, Rally in base metals strengthened and supported the prices which led the Silver to rose its intraday high of 27419. Profit taking in the afternoon session took Silver to its intraday low of 27165.Technically market is trading in the range as RSI for 18days is currently indicating 54.1, where as 50DMA is at 26832.12 and silver is trading above the same and getting support at 27092 and below could see a test of 26969 level, And resistance is now likely to be seen at 27378, a move above could see prices testing 27541.

Trading Ideas:

Silver trading range is 26969-27541.

Silver ended positive tracking positive base metal

Silver is taking resistance at 27378 and support is at 26970.

Improved US corporate results prompted funds to buy assets perceived as riskier.

BUY SILVER MAY @ 27200-27250 SL 27100 TGT 27312-27395-27480.MCX