Silver support at 1604/02 today but longs need stops below yesterday's low at 1597. If we continue lower however good support at 1592/90 should be a good
Silver Futures December contract Daily Forecast - 18 November 2014Silver support at 1604/02 today but longs need stops below yesterday’s low at 1597. If we continue lower however good support at 1592/90 should be a good buying opportunity to try longs with stops below 1580. A break lower however risks a slide as far as 1565 for a buying opportunity with stops below 1555.
Only above 1615 is more positive for today & targets 1625/30 then yesterday’s high at 1640/45. Above here, 5 month trend line & Fibonacci resistance at 16.59/64 is a big challenge & a high for the day likely. Try shorts with stops above 16.70. Be ready to go with a very positive break higher however to target 17.02/17.10.
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