Last week MCX Silver closed at Rs 29548 with marginal decline and Silver also witnessed marginal decline to close at Rs 54191.

The bullion market has started the first day of week with positiveness. Comex Gold Silver are trading up nearly 0.50% and 1% respectively as an effect, domestic market also opened with positive note. Gold is trading above 29600 level and it may target 29750-29900 level today while silver is heading towards 55000 level if it manages to prevail 54600 level.

Silver seems to have immediate Resistance near 55000 level and support at 54350. Any trade beyond either side would decide the intraday trend of this precious metal.

COMEX Silver is in a slightly downward in trend.  Last week COMEX Silver was trading in a range for the whole week. For the upcoming week 2600 and 2400 are the crucial supports and 3800 and 4100 are crucial resistance in COMEX Silver. In
MCX Silver, 62000 and 65000 will act as major resistance and 45000 and 42000 will act as major supports.

Technically COMEX Silver is consolidating on charts. For the next week traders can use buy on lower level strategy if Silver sustains above the level of 3570$ an ounce, then above 3600$ COMEX Silver can test the level of 3660/3720 an ounce. And in MCX Silver sustains above 57200 then it can test the level of 58500/59800, Trade by keeping the
proper stop losses.