Silver closed sharply lower on the coattails of gold, which fell on moves by funds to exit profitable long positions ahead of year-end, particularly with the dollar attempting to stabilize. Silver opened at 27950, finding resistance at its highs of 28036, before coming under heavy selling pressure and following gold down to its lows of 27206 in brisk trading.

Now support for the silver is seen at 27051 and below could see a test of 26714. Resistance is now likely to be seen at 27881, a move above could see prices testing
28374.

Trading Ideas:

SILVER TRADING RANGE IS 26800-27900.

SILVER YESTERDAY CONTINUED ITS BEARISH PRICE ACTION TRACKING WEAK CRUDE AND GOLD PRICES.

SELL SILVER MAR BELOW 27300 SL 27465 TGT 27244-27180-27122-27060. MCX

A BREAK BELOW 27000 LOOK TO TAKE SUPPORT AT 26650 LEVEL.

IMP SUPPORT WILL BE AT 17.26$ AND RESIST IS AT 17.54$