Silver fell with gold on a day when the dollar gained traction. Some pressure had been from the base metal counter where all metals dropped by almost 1%. Silver opened at 28451 and continued its downward push, along with gold. We traded largely sideways until the unit followed gold to new highs of 28542.

Profit taking inspired good selling, and the metal began a fresh downtrend to its lows of 27901, finally closing at 28052.Now support for the silver is seen at 27788 and below could see a test of 27524. Resistance is now likely to be seen at 28429, a move above could see prices testing 28806.

Trading Ideas:

SILVER TRADING RANGE IS 27500-28500.

SILVER FELL YESTERDAY TRACKING FALLING GOLD PRICES AND RISING DOLLAR

BUY SILVER MAR ABV 28165 SL 28000 TGT 28210-28270-28360.MCX

SUPPORT FOR SILVER IS AT 26880 AND RESIST IS AT 28240.

SELLING PRESSURE WILL BE SEEN IN THE EVENING SESSION OVERALL TGT 17.20$