Silver market is weak till 24680.

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The potential for a bearish reversal pattern seems to have been confirmed by the price action over the past few days, as silver now lies against its 100 day moving average. If the metal behaves like it did the last time it came within the 18.50 mark, we could see a move all the way back down to 16.50, near the bottom end of the $2 range that silver has traded in since early May. Now support for the silver is seen at 24910 and below could see a test of 24565. Resistance is now likely to be seen at 25566, a move above could see prices testing 25877.

Trading Ideas:

• TRADING RANGE IS 24565-25877.
• SELL SILVER @ 25500-580 SL 25735 TGT 25365-270-122-25000. MCX
• BELOW 25000 MKT IS WEAK TILL 24680 LEVEL.