Technical forecast for Silver

silver

Silver beat 23.32/36 to reach 24.10. Despite being overbought today’s outlook remains positive after the breakout & we could target 24.79/80 where we will look for an end to the rally at this stage. Here we can exit longs & try shorts with stops above 25.00.

Look for short term support at 23.66 on any weakness & below here at 23.40. However stops on longs needed below 23.18 as below here we could test strong support at 22.97/93 for a buying 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