Silver tracking the gains in base metal and gold opened higher at 46200 and reached an intraday high of 46683 shortly after the open as crude gained but pressure had been seen in base metals and crude saw silver reach an intraday low of 46280 and finally settled at 46390. The Gold Silver ratio is largely unchanged today at current 44.63 and approach major support in the ratio at 44.08 the 2006 low.

Now technically market is trading in the range as RSI for 18days is currently indicating 65.86, where as 50DMA is at 44420.46 and silver is trading above the same and getting support at 46119 and below could see a test of 45848 level, And resistance is now likely to be seen at 46672, a move above could see prices testing 46954.

Trading Ideas: Silver trading range is 45848-46954. Silver prices rallied on a weaker dollar and mixed inflation news out of China and the U. K. Silver looks to take support at 46200 level and resistance at 46520 level. In spot silver looks to get resistance at 31.00 and support at 30.48 level. Silver $ FIX is at : 30.72 & CURRENTLY SILVER $ IS TRADING AT : 30.69 & DOWN BY -0.2%