Silver declined in response to dollar gains, equity-market weakness and selling to square positions ahead of an FOMC meeting and State of the Union address. Now technically market is trading in the range as RSI for 18days is currently indicating 31.32, where as 50DMA is at 27631and silver is trading below the same and getting support at 25810 and below could see a test of 25550 level, And resistance is now likely to be seen at 26541, a move above could see prices testing 27012. Spread between Silver MAR & MAY contracts yesterday ended at 237, we have seen yesterday that the silver market had traded with a negative node and settled -2.77% down. Spread yesterday traded in the range of 100 - 849.

Trading Ideas:

Silver trading range is 26400-27200.

Silver declined in response to dollar gains and selling to square positions ahead of FOMC meet.

Support for the silver is at 25920 and resistance at 26180 level.

Silver MAR & MAY contracts yesterday traded in the range of 100 - 849.

SELL SILVER MAR ON JUMP @ 26300 SL 26460 TGT 26215-26140-26040-25925.MCX