Commodity Outlook for Silver by KediaCommodity

Commodity Outlook for Silver by KediaCommodity Silver rose following base metals that have industrial uses as investors who had avoided riskier assets amid last week's turmoil returned to the market. Now technically market is trading in the range as RSI for 18days is currently indicating 44.21, where as 50DMA is at 29287.24 and silver is trading below the same and getting support at 28540 and below could see a test of 28315 level, And resistance is now likely to be seen at 28954, a move above could see prices testing 29143.

Trading Ideas:

Silver trading range is 28315-29143.

Silver ended higher yesterday tracking firmness in base metal prices

Silver is taking resistance at 28910 and support is at 28620.

In spot silver looks to have a support at 17.56$ and resistance at 18.04$

BUY SILVER SEPT @ 28500-570 SL 28380 TGT 28640-28720-27840.MCX