Silver ended the week higher on hectic stockists buying amid speculative support triggered by rise in the global market. Silver at 36274 is showing its seventh up week in the last eight sessions in a move that started at 28000. Silver traded as high as 36937 this week. Trailing stop losses will not likely be triggered unless the metal trades back through this week's low of 34575. The Gold Silver ratio completed its eight consecutive down week at 56.41. We see support at former March 2008 high of 54.35. U.S. silver exports rose 127.1% in August from the previous month, and was up 448.1% from the previous year, the Commerce Department reported. Now support for the silver is seen at 35860 and below could see a test of 35447. Resistance is now likely to be seen at 36703, a move above could see prices testing 37133.
Trading Ideas:
Silver trading range is 35447-37133.
Silver ended week higher on hectic stockists buying tracking rise in the global market
U.S. silver exports rose 127.1% in August from previous month
Holdings at ishares silver trust fell by 60.85 tonnes to 10224.05 tonnes o
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