Spot Silver May Trade With Bullish Bias

Published 06/19/2013, 07:01 AM
Updated 05/14/2017, 06:45 AM

Silver moved lower yesterday, breaking below the minor ascending support shown above. A continuation of the selloff below 21.40 horizontal support clears the way towards 21.15, and probably lower. The bearish bias is still favored, and 21.75 level may be the main pivot for today.
Silver Spot
Support: 21.50, 21.00, 20.80, 20.15, 20.00
Resistance: 22.10, 22.55, 22.85, 23.10, 23.35

Based on the chart and explanations above, we prefer to short silver below 21.75 targeting 21.15 and 20.15. Stop loss with four-hour closing above 22.10.


Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.