Silver ended lower yesterday as per expectation tracking weakness in base metal and crude prices. The Gold Silver ratio is up slightly to 56.09. We remain near Octobers lows despite metals weakness. Risk remains lower to 55.00 with topside resistance at 57.27. Silver opened at 36040. The metal had a brief reprieve, reaching its high of 36088 but quickly turned lower as base metals and crude declined, reaching its low of 35505. The remainder of the day saw the metal range bound eventually closing at 35579. Now support for the silver is seen at 35360 and below could see a test of 35141. Resistance is now likely to be seen at 35943, a move above could see prices testing 36307.

Trading Ideas:

Silver trading range is 35141-36307.

Silver ended lower tracking weakness in base metal and crude prices

Silver is having resistance at 35720 and support at 35440 level.

In spot silver looks to have a support at 23.36$ and resistance is at 24.72$