silver intraday

Silver trading range 25704-27016
17 July 2008 11:37:45

Silver has weakened back to the 18.78 area after it failed move above $19.00. The market will look to buy on dips towards 18.46 and likely liquidate only on a move below the May top of 18.34. The gold/silver ratio tried the 52.00 area before falling back to 51.25. Now support for the silver is seen at 25961 and below could see a test of 25704. Resistance is now likely to be seen at 26617, a move above could see prices testing 27016.

Trading Ideas:

TRADING RANGE IS 25704-27016.
BUY SILVER @ 26100-180 SL 25980 TGT 26350-26435-26570-26865. MCX
A BREAK OF 25840 WILL TAKE SUPPORT TILL 25200 LVL
ELSE MKT IS BULLISH TILL THE SAME HIGH.

MCXARUN
9994500540