Silver fell sharply as the U.S. dollar rallied. The buck was stronger on escalating worries surrounding euro zone debt issues. A stronger dollar often pressures dollar-denominated metals like silver by making them more expensive for buyers using other currencies, damping demand. Silver opened the day on its intraday high of 27510. Strong declines in crude and base metals saw Silver trade down to its intraday low of 26740. As equities and commodities recovered, renewed buying interest in the metal saw Silver gain, eventually closing at 27303.Now support for the silver is seen at 26859 and below could see a test of 26414. Resistance is now likely to be seen at 27629, a move above could see prices testing 27954.

Trading Ideas:

Silver trading range is 26414-27954.

Silver fell sharply as the U.S. dollar rallied

Silver is taking resistance at 27440 and support is at 27160.

In spot silver looks to take support at 17.36$ and resistance at 17.74$.

BUY SILVER JUL @ 27100-180 SL 27020 TGT 27240-27300-27380.MCX