Silver staged a recovery as predicted & beat 1970/75 making it higher than expected in fact & reaching 1996. However we collapsed from here &
Silver Spot XAGUSD Daily Forecast - 30 January 2014Silver staged a recovery as predicted & beat 1970/75 making it higher than expected in fact & reaching 1996. However we collapsed from here & even though we are oversold the outlook is quite negative. Support at 1943/38 needs to be watched carefully & any longs need stops below 1928. Go with a break lower then for 1911/05. A break below 1895 adds pressure & targets 1890.
If however we can continue to hold on to 1943/38 we could recover to 1963/65. We should struggle here but if we continue higher look for strong resistance at 1976/78.
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