Commodity Outlook for Silver by KediaCommodity

SilverSilver prices settled up tracking firming trend in the overseas market. Further, increased demand in spot markets ahead of the festive season, also influenced silver prices. The Gold Silver ratio moved lower into the resent range today to 56.72. Last weeks price action shows as a "Harami" which translates as "pregnant" or otherwise known as an inside week. A close Friday above 57.50 would bring in buyers of the ratio. Now support for the silver is seen at 35183 and below could see a test of 34893. Resistance is now likely to be seen at 35761, a move above could see prices testing 36049.

Trading Ideas:

Silver trading range is 34893-36049.

Silver prices settled up tracking firming trend in overseas and firm base metal prices.

Silver is having resistance at 35620 and support at 35340 level.

In spot silver looks to have a support at 23.20$ and resistance is at 23.76$