Technical forecast for Silver

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Silver retested 20.16 & broke lower. This level is now acting as resistance & if we hold below here we should eventually test good support at 19.88/78 for a short term buying opportunity with stops below 19.65.

Above 20.20 is more positive & could see a move towards 20.35/45. If we continue higher look for a retest of 20.50/60 highs with strong Fibonacci resistance just above at 20.75/85 for a selling opportunity.

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