Monday, June 23, 2014

Thursday, June 19, 2014

Daily Silver Technical Update and Forecast(19 June 2014)

Silver Daily Technical Analysis and Outlook:

The support zone mentioned in our previous post was a vital price point and prices so far have made

Tuesday, June 17, 2014

Daily Silver Technical Update and Forecast(17 June 2014)

Silver Daily Technical Analysis and Outlook:


The 18.69-18.20 zone so far has been holding the lows. Prices seem to be forming a base around this region.

Tuesday, May 6, 2014

Daily Silver Technical Update and Forecast(5 May 2014)

Silver Daily Technical Analysis and Outlook:


Prices recently reached a low of 18.85 and strongly retraced back to 19.68. The price zone at 18.69-18.20 remains an important price area. A break of this zone would give way for much lower prices with the initial target being 17.25-17.05 zone. On the daily price chart we have a morning star candlestick pattern formation which portends a bullish move ahead. The low of the pattern is at 18.85 close enough to the 18.69-18.20 price area which has contained all the major lows since July 2013. At this juncture the initial target for the upside move is at the 20.40 level.
P.S:However at this point of time we consider the bearish case to be an alternative scenario.
Happy Trading..


Friday, April 25, 2014

Daily Silver Technical Update and Forecast(25 April 2014)

Silver Daily Technical Analysis and Outlook:

In our last update, nearly a month ago, a breach of 20.00 was considered to be a bearish omen for silver and it proved to be so. Overall more than 90% of the advance seen in silver since January 1 has been retraced which was not expected. However the 20.00 level was cited to be important in our previous post. Now in the current scenario a break below the 18.69-18.20 would a bearish signal for silver and the next target would be around the 17-16 or even 15. The low at 18.20 is an important low of an morning star candlestick pattern formed over the months of July,August and September of 2013. Provided the above said levels hold in the short term we could see a move towards the 22.45-22.80 level.

Happy Trading..