Silver ended lower witnessing heavy speculative sell-off after its recent spike amidst lower industrial off take. Silver prices also get pressurized from the weak base metal prices. Silver is getting strong support at 44000 level above this level silver looks to test 45000 mark again. Now technically market is trading in the range as RSI for 18days is currently indicating 64.55, where as 50DMA is at 40316.94 and silver is trading above the same and getting support at 44040 and below could see a test of 43639 level, And resistance is now likely to be seen at 44804, a move above could see prices testing 45167.

Trading Ideas:

Silver trading range is 43639-45167.

Silver ended lower witnessing heavy speculative sell-off racking weak base metal prices

Silver is having resistance at 44720 and support at 44200 level.

In spot silver looks to have a resistance at 29.20$ and support at 28.65$