Silver trading ideas for 12 June By Commodity Online

Silver trading range for the day is 53978-55298. Technically market is trading in the range as RSI for 18 days is currently indicating 49.09, where as 50DMA is at 55431.24 and Silver is trading below the same and getting support at 54336 and below could see a test of 53978 level, And resistance is now likely to be seen at 54996, a move above could see prices testing 55298.

Silver jumped nearly 1% to settle with a gain of Rs. 483.00 at 54694 as news that euro zone finance officials agreed to bailout Spain in order to help its ailing banking sector boosted the euro and weighed heavily on the US dollar.

Spot Silver prices increased by 0.3 percent today. Additionally, weakness in the DX also helped upside in Silver prices. The white metal touched an intraday high of $29/oz and closed at 28.60/oz in yesterday’s trading session. [ News Source ]

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