Commodity Trading Tips for Silver by KediaCommodity

Silver retreated more than -1.87% Thursday, giving back the previous
session’s paltry gains and then some as the dollar traded higher and
other commodities such as oil headed lower. Silver retreated from a
31-year high, and copper succumbed to downward pressure after spending
some time in the black. Earlier Thursday, investors grappled with news
that China posted a $7.3 billion trade deficit for February, while
markets had expected a surplus. Now technically market is trading in the
range as RSI for 18days is currently indicating 66.5, where as 50DMA is
at 47121.06 and silver is trading above the same and getting support at
52273 and below could see a test of 51571 level, And resistance is now
likely to be seen at 54007, a move above could see prices testing 55039.

Trading Ideas:

Silver trading range is 51571-55039.

Silver prices dropped due to sustained stockists offloading amidst bearish overseas market

Silver looks to get resistance at 53260 and support at 52650 level.

In spot silver is getting resistance at 35.80$ and support at 35.08$.

(Source: http://www.topnews.in/commodity-trading-tips-silver-kediacommodity-2317487)