Silver faltered with gold prices amid fluctuations in the U.S. dollar and concerns about limits on banks. Silver also had a difficult day, confirming yesterday's close below the 50-day moving average of 17.97 by dropping below the 100-day moving average of 17.49 - though the metal managed to close marginally above this level. The next level of support lies at the December low of 16.73. The MACD crossed below the signal line today, building further downside pressure on the metal. Tomorrow's weekly closes will be important for both gold and silver. Now support for the silver is seen at 26917 and below could see a test of 26587. Resistance is now likely to be seen at 27715, a move above could see prices testing 28183.

Trading Ideas:

Silver trading range is 26800-27700.

Silver faltered due to fluctuations in dollar and concerns about limits on banks

Silver is having resistance at 27380 level on MCX and 17.52$ in spot.

Support for the silver is at 27120 level.

SELL SILVER MAR @ 27350-380 SL 27465 TGT 27290-27245-27190-27160.MCX