SILVER

Silver: Silver yesterday failed to cross the higher resistance level of 35.5$ and gave a good selling where on lower side it tested the level of 34.06 and closing was also seen at days low. Today after sideway opening at 34.08$ it is trading positive at 34.45$ where if sustain trading is seen below 34.3$ will test the lower level of 34$, where as only crossover above 35$ will bring to 37$ next resistance level. On higher side only on closing basis above 35$ will hamper the bearish outlook in silver where it will test 37$ on higher side. Immediate resistance is seen at 35$ and till this resistance is holding intraday expected to continue the down trend where if trading below 34 will bring to lower target of 33.5$ to 33$ can be expected. Stochastic is showing sign of negative intersection at overbought zone where if trading is seen below 80% zone will give short correction in price if higher resistance level is holding at 35$.