MTECHTIPS

MTECHTIPS:-SILVER

The silver  witnessed  a session  of  sharp  decline as the commodity failed to hold on to the gains made yesterday on heavy decline in prices in the global markets. The commodity has very strong support at lower levels around  53800 levels, any dip in the commodity below these levels will open up levels of  53000 in coming days. Silver has strong resistance above 54600, any move above these levels will open up 55000 levels. Some consolidation may be seen at current levels.