Silver up ticked with gold on a day equities rose, with the upside limited by a stronger dollar. Silver opened at 26545 on MCX and like gold it traded sideways as the session began. It retreat to a low of 26315 before good investor demand carried it higher as the dollar softened and it climbed above 26700. More buying entered the market taking out shorts and it managed to reach an intraday high of 26780. Light profit taking pulled it from its highs to finally settle at 26616. Now support for the silver is seen at 26359 and below could see a test of 26103. Resistance is now likely to be seen at 26828, a move above could see prices testing 27041.

Trading Ideas:

Silver trading range is 26103-27041.

Silver yesterday up ticked with gold on a day equities rose

Silver is taking support at 26480 on MCX and in spot support is at 16.80$

The Gold Silver ratio is seen down on the day at 64.74.

SILVER LOOK TO TRADE IN THE RANGE 26380-26850. VOLATILITY WILL BE HIGH.