Silver prices ended weak on intraday profit booking tracking fall in gold prices. But the fall in prices was limited as rising crude oil and copper prices supported the silver prices. Silver is holding a strong support at 44000 level a break below 43800 only will see some pressure on silver. Silver opened at 44586, rising to an intraday high of 44724 with strong gains in base metals. Profit taking as crude declined saw the metal quickly trade to an intraday low of 44170. A turn around in crude’s decline coupled with rising equities saw silver recover to close the day at 44529. Now support for the silver is seen at 44225 and below could see a test of 43920. Resistance is now likely to be seen at 44779, a move above could see prices testing 45028.

Trading Ideas:

Silver trading range is 43920-45028.

Silver prices ended weak on intraday profit booking tracking fall in gold prices

Silver is having resistance at 44740 and support at 44300 level.

In spot silver looks to have a resistance at 29.62$ and support at 29.05$