Silver prices followed gold prices lower. A stronger U.S. dollar and profit-booking weakened the metals. Silver opened at 29850, before being lifted to a high of 30090 by advancing gold and base metals. The metal lingered around that level before succumbing to an onslaught by captious investors who dumped the metal amid gold’s annihilation. The commodity hit a low of 29434 before recuperating mildly to finish at 29551.Now support for the silver is seen at 29293 and below could see a test of 29036. Resistance is now likely to be seen at 29949, a move above could see prices testing 30348.

Trading Ideas:

Silver trading range is 29036-30348.

Silver ended lower tracking weakness in gold prices on strong dollar

Silver is taking resistance at 29720 and support is at 29380.

In spot silver is having support at 18.46$ and resistance at 18.94$

BUY SILVER JULY @ 29500-550 SL 29400 TGT 29600-29680-26760.MCX