Silver yesterday ended down on profit booking after prices rose from last week to its all time high. The Gold Silver ratio fell short of target today of 60.77, closing up on the day at 61.55. With Silver close to 21.35 and 60.77 targets we are on high alert of a possible short term correction in the metal. Silver opened at 32226. The metal followed gains in base metals, rising to its intraday high of 32339. Selling interest then took the metal to its low of 32060 before quietly climbing back to close at 32144.Now support for the silver is seen at 32023 and below could see a test of 31902. Resistance is now likely to be seen at 32302, a move above could see prices testing 32460.

Trading Ideas:

Silver trading range is 31902-32460.

Silver yesterday ended down on profit booking

Silver is taking resistance at 32300 and support is at 32020.

In spot silver looks to take support at 20.56$ and resistance at 20.96$.