Spot Silver May Witness Further Sell-Off

Published 05/15/2013, 08:28 AM
Updated 05/14/2017, 06:45 AM
SI
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Silver is attempting to break 23.25 support level, successfully holding below it may confirm further sell-off and a possible retest of 22.00 low once again. Overall, we hold onto our earlier bearish expectations.
Spot Silver

  • Support: 22.85, 22.65, 22.25, 22.00, 21.75
  • Resistance: 23.25, 23.40, 23.70, 24.00, 24.40

Based on the charts, we prefer to short silver below 23.25 targeting 22.60 and 22.00. Stop loss above 23.85.

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