Silver is closing small up on the week at 17.29. The metal is riding a multi month trend line support that comes in at 17.08. A break of this line opens up a move to 16.24 area. Topside resistance will lie near 17.78. The Gold Silver ratio is closing the week at 64.39.

This is a down week from last Fridays 65.02. We believe that while the ratio closes above 64.00, the risk is to the topside. Now support for the silver is seen at 27264 and below could see a test of 27214. Resistance is now likely to be seen at 27353, a move above could see prices testing 27392.

Trading Ideas:

SILVER TRADING RANGE IS 26800-27800.

SILVER IS TRADING IN THE LINE OF GOLD AND CRUDE

NOW SILVER LOOKS TO TAKE SUPPORT AT 27160 AND RESIST AT 27440 LEVEL.

NOW IMPORATANT IS 27000 ABV THIS SILVER IS LOOKING FIRM

BUY SILVER MAR ABV 27400 SL 27260 TGT 27465-27512-27595-27680. MCX