India silver ends higher on strong global demand

Silver rose to record high on concerns about rising inflation globally, and as a lingering Euro zone sovereign debt crisis continued to boost safe-haven demand.
Chinese inflation gauges rose strongly again and the overall U.S. producer and consumer inflation readings rose, but remained sub-1%.
Holdings in the world's largest silver-backed exchange-traded fund, iShares Silver Trust, rose by 69.81 tonnes, or 0.64 percent, from the previous session to 11,044.07 tonnes by April 15.
Now technically market is in overbot as RSI for 18days is currently indicating 80.26, where as 50DMA is at 54359.78 and silver is trading above the same and getting support at 61769 and below could see a test of 61149 level, And resistance is now likely to be seen at 62925, a move above could see prices testing 63461.
Trading Ideas:
Silver trading range is 61149-63461.
Silver rose to record high on concerns about rising inflation globally
Silver is having resistance at 62925 and support at 61769 level.
Holdings at ishares silver trust rose by 69.81 tonnes to 11044.07 tonnes.
Courtesy: Kedia Commodities

(Source: http://www.commodityonline.com/futures-trading/tradingtips/India-silver-ends-higher-on-strong-global-demand-12543.html)