Spot Silver May Trade On Positive Bias

Published 05/31/2013, 06:38 AM
Updated 05/14/2017, 06:45 AM

Silver moved higher yesterday, recording a high at 23.12 before retreating back below 23. The two key levels to monitor overt short term are 22 key support, and 23.28 key resistance, a break above 23.28 should confirm a move higher towards 24.80 swing high. In general, we remain inclined towards further upside within the upcoming period.
Spot Silver

  • Support: 22.50, 22.00, 21.50, 21.00, 20.50
  • Resistance: 22.85, 23.25, 23.40, 23.70, 24.00
Recommendation

: we prefer to long above 22.50, targeting 23.20 and 24.70. Stop loss below 21.90.

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