Silver firmed up further on persistent demand from industrial users, Silver opened at 26510, already benefiting from the base metal rally. Although it dipped during the very early session to a low of 16495, it followed rally base to post highs on the day of 26900 near the midsession due to short covering. Quiet selling / profit booking brought silver down to close at 26851. Now technically market is trading in the range as RSI for 18days is currently indicating 55.83, where as 50DMA is at 25967.78 and silver is trading above the same and getting support at 26597 and below could see a test of 26344 level, And resistance is now likely to be seen at 27002, a move above could see prices testing 27154.

Trading Ideas:

Silver trading range is 26381-26521.

Silver finished higher tracking higher crude and copper prices

Silver is taking support at 26720 on MCX and in spot support is at 17.20$

Silver MAY & JUL contracts yesterday traded in the range of 189 - 213.

BUY SILVER MAR @ 25600-650 SL 26480 TGT 26722-26800-26880. MCX (EVE WEAK)