Silver declined with gold prices. The precious metals were hurt by a stronger U.S. dollar. The dollar gained amid an increased appetite for its perceived safety, which hurt assets like gold, silver and equities that are considered riskier. Now technically market is trading in the range as RSI for 18days is currently indicating 54.18, where as 50DMA is at 25989 and silver is trading above the same and getting support at 26712 and below could see a test of 26594 level, And resistance is now likely to be seen at 26954, a move above could see prices testing 27078. Spread between Silver MAY & JUL contacts yesterday ended at 201, we have seen yesterday that the silver market had traded with a negative node and settled -0.08% down. Spread yesterday traded in the range of 173 - 201.

Trading Ideas:

Silver trading range is 26594-27078.

Silver declined with gold as prices hurt by a stronger U.S. dollar

Silver is taking support at 26680 on MCX and in spot support is at 17.16$

Silver MAY & JUL contracts yesterday traded in the range of 173 - 201.

SELL SILVER MAY @ 26950 SL 27080 TGT 26890-26815-26740. MCX