Silver yesterday ended lower tracking weakness in gold and base metal prices after trading within a tight range for most of the day. Silver still above 29000 level looks firm till 29350-2640 level below 29000 mark some pressure can be seen till 28800 level. Now technically market is trading in the range as RSI for 18days is currently indicating 54.9, where as 50DMA is at 28682.46 and silver is trading above the same and getting support at 29100 and below could see a test of 28985 level, And resistance is now likely to be seen at 29405, a move above could see prices testing 29595. Spread between Silver JUL & SEP contacts yesterday ended at 94. Spread yesterday traded in the range of 78 - 99.

Trading Ideas:

Silver trading range is 28985-29595.

Silver yesterday ended lower tracking weakness in gold and base metal prices

Silver is taking resistance at 29360 and support is at 29080.

In spot silver looks to take support at 18.22$ and resistance at 18.62$

BUY SILVER JULY @ 29300-340 SL 29460 TGT 29220-29150-29060.MCX