Technical Forecast for 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.