Silver closed higher this week tracking firmness in gold prices, and now seems to be alternating between up and down weeks for the past six sessions, while rarely drifting too far away from 28680. We see large support near 27560, without any significant resistance until 29900 and 30200. We are neutral Silver but its inability to move lower bodes well for an eventual test of the topside. The gold/silver ratio is lower this week at 65.24, continuing its drift lower over the past month from 67.97. Major support for the ratio is not seen until April's low of 62.65. Now support for the silver is seen at 29102 and below could see a test of 29083. Resistance is now likely to be seen at 29144, a move above could see prices testing 29167.

Trading Ideas:

Silver trading range is 29083-29167.

Silver closed higher this week tracking firmness in gold prices

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

In spot silver looks to take support at 18.22$ and resistance at 18.65$