Technical Forecast for Silver

Silver edged higher as predicted despite being overbought to reach 24.41. We could be running out of steam but cannot rule out a test of resistance at 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. 

 

Immediate support is 23.90 so a break below here is less positive & could target 23.60. Look for a low for the day here at this stage but if we continue lower we should test good support at 23.40/35.