silver intraday

Silver opened at 1840/1843 in New York. The metal followed gold and plunged on the back of a weaker Euro. Prices reached a low of 1800/1803 but quickly rallied as oil strengthened, climbing higher most of the morning. Silver slipped near noon as the Euro continued to weaken, but received support around 1826/1829 where it range traded and finally closed. Now support for the silver is seen at 25375 and below could see a test of 25024. Resistance is now likely to be seen at 26114, a move above could see prices testing 26502.

Trading Ideas:
• BUY SILVER SEPT @ 25650-700 SL 25560 TGT 25812-880-980. MCX
• SELL SILVER BELOW 24460 SL 24570 TGT 24345-270-24180-24080. MCX
• BELOW 24000 IMP SUPPORT IS AT 23650-480. MCX
• TRADING RANGE IS 25024-26502.

MCXARUN
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