Market Overview

Technical Forecast for Silver

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.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Commodities Markets Trading Ideas


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