Commodity Trading Tips for Silver by KediaCommodity

SilverSilver sustained above 43$ mark that is well above 66000 mark on MCX and had gained by +0.75 to settled at 66394 tracking gold which had hovered around $1,900 an ounce, as renewed fears over the euro zone's debt crisis drove investors to safe-haven assets such as bullion. Worries about the resurfacing euro zone debt crisis helped push bullion, while Europe faces a string of political and legal tests this week that could hurt efforts to resolve its sovereign debt crisis and step up pressure for governments to try more radical solutions. Greece expects to receive another tranche of aid on schedule in Sept despite a dispute with international lenders Athens had fallen behind schedule in cutting its deficit. European stock prices plunged overnight as investor worries towards European debt crisis and recession in European and US economies increased, boosting demand for silver due to their safe haven attribute. Holdings of the world's largest silver-backed exchange-traded fund, the iShares Silver Trust, rose 35 tonnes on Friday, the trust said.Now technically market is trading in the range as RSI for 18days is currently indicating 60.56, where as 50DMA is at 61306.76 and silver is trading above the same and getting support at 65598 and below could see a test of 64803 level, And resistance is now likely to be seen at 66919, a move above could see prices testing 67445.

Trading Ideas:

Silver trading range is 64803-67445.

Silver sustained above 66000 mark tracking gold which had hovered around 28500

Worries about the resurfacing euro zone debt crisis helped push prices

Greece expects to receive another tranche of aid on schedule in Sept