Silver recovered on the pickup in the demand from industrial units in the yesterday early trading session and jumped to make a high of 45269 as the white metal carried on being in demand among industrial units and coins manufacturers on the hopes of more hike in its prices in coming days. But latter session market dip to test the day’s opening on dollar weakness now technically market is trading in the range as RSI for 18days is currently indicating 57.21, where as 50DMA is at 43636.72 and silver is trading above the same and getting support at 44680 and below could see a test of 44461 level, And resistance is now likely to be seen at 45194, a move above could see prices testing 45489.

Trading Ideas:

Silver trading range is 44461-45489.

Silver traded firm ahead of a series of euro-zone bond auctions.

Silver will find resistance now at 29.82$ and 30.10$.

Silver looks to take support at 44740 level and resistance at 45080 level.

SELL SILVER MAR @ 45150 SL 45350 TGT 45020-44860-44720.MCX

Silver $ FIX is at : 29.6 & CURRENTLY SILVER $ IS TRADING AT : 29.63 & DOWN BY -0.03%