Silver is closing at 16.91$ which is unchanged from last Fridays close. This follows two consecutive down weeks off 17.64$. The metal tried as low as 16.55$ this week temporarily breaking key support at 16.83$. We are neutral Silver but think that the positive momentum witnessed from late January to early March is slowly rolling over. The Gold Silver ratio is closing the week at 65.42 which is mildly higher than last Fridays 65.29. Now support for the silver is seen at 26421 and below could see a test of 26381. Resistance is now likely to be seen at 26491, a move above could see prices testing 26521.

Trading Ideas:

Silver trading range is 26381-26521.

Silver finished higher with gold on a day when the euro strengthened

Silver is taking support at 26340 on MCX and in spot support is at 16.72$

Gold Silver ratio is closing the week at 65.42 which is mildly higher than last Fridays 65.29

BUY SILVER MAY @ 26380-425 SL 26280 TGT 26480-26540-26670.MCX