Silver prices rose on persistent buying from stockists as well as seasonal demand in tandem with a rising trend overseas. Silver prices were also supported by firm copper prices. Silver above 44200 looks positive till 44750 level only a break below 44000 mark some pressure can be seen. The Gold Silver ratio is closing at 47.07. The ratio remains weak with next support levels seen at 45.42 and 44.08 the
2006 low. Now technically market is trading in the range as RSI for 18days is currently indicating 65.01, where as 50DMA is at 41025 and silver is trading above the same and getting support at 44175 and below could see a test of 43798 level, And resistance is now likely to be seen at 44809, a move above could see prices testing 45066.

Trading Ideas:

Silver trading range is 43798-45066.

Silver prices rose on persistent buying from stockists as well as seasonal demand supported prices

Silver is having resistance at 44720 and support at 44360 level.

Silver holdings in ETF of Zurich Cantonal Bank were down 2.1% to 76.178 million ounces