Silver is frustrating the bulls as it closes the week largely unchanged from last Friday at 17.40. With the bullish metals sentiment, Silver should have retested 18.09 high. The sideways move in Silver has the Gold Silver ratio pushing higher. Gold Silver is ending the week up at 64.23. We see Fibo resistance at 64.43 but should it yield the next target is 68.15 (38.2% retrace of our large drop).

Now technically market is trading in the range as RSI for 18days is currently indicating 50.27, where as 50DMA is at 26819 and silver is trading above the same and getting support at 26959 and below could see a test of 26745 level, And resistance is now likely to be seen at 27122, a move above could see prices testing 27257.

Trading Ideas:

SILVER TRADING RANGE IS 26500-27500.

SILVER CLOSES THE WEEK LARGELY UNCHANGED FROM PREVIOUS FRIDAY

BUY SILVER DEC ABV 27056 SL 26920 TGT 27130-27199-27285-27365.MCX

SILVER IS HAVING SUPPORT AT 17.12$ AND RESIST AT 17.42$.

SILVER CLOSED HIGHER DUE TO SHORT COVERING ON FRIDAY.

SILVER $ FIX IS AT : 17.323 & CURRENTLY SILVER $ IS TRADING AT : 17.63 & UP BY 1.26%

Commodity Analysis by Kedia Commodity, India's Premium Research House, Mumbai. Check out more commodity reviews at KediaCommodity. com