Silver recovered more than $1 on an increase in demand. It hit a low of $30.88 and is currently trading around $32.12.
Market eyes US Nonfarm payroll data for further direction.
The festive demand in India also supports Silver at lower levels. The Navarathri one of the major festival in India starts on Oct 3rd and ends on Oct 12th.
Gold-silver ratio-
Gold/Silver ratio-82.09. The gold-silver ratio declined from 85.20 to 82.44 shows that gold outperformed Silver in the past few days. The ratio is well above the historical average of 52. It is good to buy silver compared to gold.
Major trend reversal level -$32.75
It trades above 34, 55- EMA and 200 EMA in the monthly chart. The near-term support is around $31.75 and a break below the target of $31.25/$30.79/$30.35 (21- day EMA)/$30/$29.60. On the higher side, immediate resistance is around $32.75 and any breach above targets is $35.
It is good to buy on dips around $30.80-85 with SL at around $29 and TP at $35/$40.


Major Pairs Bias: USDCHF Bullish While GBPUSD Turns Bearish
FxWirePro: GBP/USD slips as middle east tensions and oil surge pressure pound
NZDJPY Bullish Dip-Buy Setup: 93.60 Support Unlocks Path to 97
FxWirePro: EUR/ AUD downtrend loses steam, remains on bearish path
FxWirePro: AUD/USD rallies on jobs surge, heads to test key resistance
FxWirePro: USD/ZAR surges as rand slumps after SARB rate hold surprise
JPY Action Bias: USDJPY, EURJPY, and CADJPY Emerge as Top Extremely Bullish Picks
FxWirePro: GBP/AUD downtrend loses steam but outlook still bearish
AUDJPY Extends Four-Day Rally as Yen Weakness Fuels Fresh Buying Opportunity
Major Pairs Action Bias: USDCHF Emerges Extremely Bullish as EURUSD and GBPUSD Turn Deeply Bearish
NZDJPY Dips Create Fresh Buy Opportunity as Key Support Holds
FxWirePro- Major Crypto levels and bias summary
EUR/USD Slides After ECB Hold, Bearish Technicals Favor Rally Fades
FxWirePro: EUR/NZD firms after ECB holds rates steady at 2.25%
FxWirePro: USD/CAD edges lower but bullish outlook persists
JPY Strength Alert: USDJPY, AUDJPY, EURJPY and CADJPY Turn Extremely Bullish 



