Silver December contract inched 600 rupees up to settle at 38488. Silver has witnessed a nice recovery and headed an intraday high of 38600 yesterday. Today price objective for bulls would 38600 and above that it will try moving towards 39000-39400 and more upside. Key resistance would remain at 40000. Support is now seen near 37900 and then at 37200 any failure of 37900 may bring another retest 37600-37400 zones whereas failure of 37200 would bring more weakness and then we will see a decline towards 36500-36000 and more down side.
Silver trading range for the day is expected among the key support at 37900 and resistance at 38600.
Â· Today again buying silver above 38600 with stop loss below 38300 for targeting 39100-39600 and more upside might be appropriate.
Â· Selling can be taken below 37900 with stop loss above 38100 for targeting 37600-37400 and more down side might be appropriate.
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