Silver ended in positive node on Saturday after falling in last few sessions getting caught up in broader selling on the prospect of tighter Chinese monetary policy and also pressured by a further outflow from the world's largest silver-backed exchange-traded fund, the iShares Silver Trust. Investment demand was a major driver in silver's more than 80 percent price gains last year. Silver is closing the week at current 42708. This is the third down week in a row off of 2011 high of 46774.  The close below 42000 is a bearish indicator. Now support for the silver is seen at 42589 and below could see a test of 42471. Resistance is now likely to be seen at 42788, a move above could see prices testing 42869.

Trading Ideas:

Silver trading range is 42471-42869.

Silver ended last week lower due to tightening of Chinese policy and also pressured by outflow from ETF.

Silver looks to take support at 42580 level and resistance at 42870 level.

Holdings at ishares silver trust fell by 132.17 tonnes to 10394.53 tonnes.

BUY SILVER MAR ABV 42900 SL 42680 TGT 43050-43210-43380.MCX