Silver tracked gold prices lower. The precious metals, which often trade in tandem, fell as market optimism on Chinese exports and Bernanke's comments on U.S. growth bled some of the safe-haven buying from metals. Silver followed Gold’s lead opening lower at 29369. The commodity was impacted by Bernanke’s comments on gold and the market’s move into riskier asset classes, which drove down the price of Silver to the day’s low of 29004. Silver bounced back in later day trading, but remained lower on the day closing down at 29117.Now support for the silver is seen at 28954 and below could see a test of 28791. Resistance is now likely to be seen at 29330, a move above could see prices testing 29543.

Trading Ideas:

Silver trading range is 28791-29543.

Silver ended lower after Chinese exports and Bernanke's comments bled safe-haven buying

Silver is taking resistance at 29240 and support is at 29000.

In spot silver looks to take support at 17.96$ and resistance at 18.34$

SELL SILVER JUL BELOW 29000 SL 29265 TGT 28890-28760-28650.MCX