Silver opened at 24325 and slipped to an intraday low of 24010 before it turned bid as selling pressure seen in base metal and crude in the initial trading session. But silver manage to climbed on the back of rallying oil and a softening USD, finding resistance near 24460. However good investor demand pushed the metal to an intraday high of 24375, before profit taking pulled it lower and it finally closed at 24231.now technically market is trading in the range as RSI for 18days is currently indicating 30.49, where as 50DMA is at 26978.74 and silver is trading below the same and getting support at 24036 and below could see a test of 23840 level, And resistance is now likely to be seen at 24401, a move above could see prices testing 24570.

Trading Ideas:

Silver trading range is 23840-24570.

Silver slipped as selling pressure seen in base metal and crude in the initial trading session.

Gold/silver ratio continues to see upwards pressure towards the July high at 72.

Silver holding support above 24000  a break will find the support at 23560 level.

SELL SILVER @ 24200-240 SL 24340 TGT 24155-24120-24070-24022. MCX