Silver prices surged to record levels on brisk buying by speculators, driven by firming global and spot market trend. Now technically market is trading in the range as RSI for 18days is currently indicating 73.46, where as 50DMA is at 29548.14 and silver is trading above the same and getting support at 31345 and below could see a test of 31177 level, And resistance is now likely to be seen at 31700, a move above could see prices testing 31887. Spread between Silver DEC & MAR contacts yesterday ended at 112. Spread yesterday traded in the range of 107 - 164.

Trading Ideas:

Silver trading range is 31177-31887.

Silver prices surged to record levels on brisk buying by speculators

Silver is taking resistance at 31700 and support is at 31345.

In spot silver looks to take support at 19.70$ and resistance at 20.05$