Silver opened slightly higher at 46421 tracking declines in base metals and crude, silver reached an intraday low of 45804 but News from the Mid East saw crude reverse earlier declines giving support to silver to an intraday high of 46650 and finally settled at 46263. Today morning Silver is trading unchanged at current $30.72 pressure had been seen overall below $31 so we expected the fall will continuous to see in the market to test support at $30.22 and below Gold Silver ratio has drifted higher for the second day to 44.73 now technically market is trading in the range as RSI for 18days is currently indicating 64.21, where as 50DMA is at 44458.86 and silver is trading above the same and getting support at 45828 and below could see a test of 45393 level, And resistance is now likely to be seen at 46674, a move above could see prices testing 47085.

Trading Ideas:

Silver trading range is 45393-47085.

Silver prices ended weak tracking weakness in copper prices

Silver looks to take support at 46000 level and resistance at 46480 level.

In spot silver looks to get resistance at 30.90 and support at 30.35 level.

Silver $ FIX is at : 30.77 & CURRENTLY SILVER $ IS TRADING AT : 30.69 & UP BY 0.26%