Technical forecast for Silver

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Silver hit the target of 21.20/19 & this has marked the low so far. However today’s outlook remains negative so a break lower looks likely & should target 20.98 but we cannot rule out a test of May lows at 20.34 before we meet buyers.

Resistance at 21.47/53 should hold the topside today but shorts any need stops above 21.59 as we could then reach for 21.80/82 & a selling opportunity here.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More