Daily Silver Technical Update(19/9/12)

Daily Technical Analysis for Silver:

Silver fell and rose back again making new highs at 35.05 a strong close above this would negate the pullback scenario.Initial Support for the pullback remains at 33.80 and then 33.26-32.76 zone.

Note: A strong bearish divergence is seen both in the MACD histogram(left chart) and rsi(right chart),this points to the fact that a fall must ensue sooner than later

Happy Trading.