Technical forecast for Silver

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Silver getting close to a retest of last week’s low at 19.40. Watch for a second bounce but a break lower cannot be ruled out and could target 19.24. Below here risks 18.84.

Resistance at 19.97 could hold the topside but above here look for 20.27/32 where we should struggle once again. However a push higher could reach as far as 20.60 with 20.80/90 offering a selling opportunity this week.

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