Silver fell more than gold on a relative basis on worries about demand on signs the U. S. economic is not picking up rapidly. Silver opened at 26048 and climbed as the session began, reaching an intraday high of 26266. Profit taking came in as equity futures turned, taking us down to 26000 where some buying interest was seen.

Renewed selling caused by weaker copper, a stronger USD and slumping equity markets contributed to dealers dumping silver, pushing it to a low of 25369. A short squeeze as the session unwound helped the metal rally from its low to finally close at 25505. Now support for the silver is seen at 25161 and below could see a test of
24816. Resistance is now likely to be seen at 26058, a move above could see prices testing 26610.

Trading Ideas:

Silver trading range is 25000-26000.

Silver ended down on worries about demand on signs the U. S. economic is not picking up

Support for the silver is at 25380 and resistance at 25640 levels.

In spot silver is having support at 16.02$ and resistance is at 16.38$.

SELL SILVER MAR @ 25550-600 SL 25745 TGT 25470-25356-25270-25120. MCX