Silver moved lower to current 18.38$, but on the weekly chart the price action shows as an up week.
Last week Silver reached our target near July 2008 of 19.47$. Our key technical support remains former 2009 high of 18.09$. The Gold Silver ratio is closing the week at 62.56 having bounced off multiple weekly high level of 64.14.
Our key downside support is seen at 62.02. Now support for the silver is seen at 28636 and below could see a test of 28560. Resistance is now likely to be seen at 28756, a move above could see prices testing 28800.
Trading Ideas:
SILVER TRADING RANGE IS 28300-29100.
SILVER YESTERDAY ENDED DOWN TRACKING THE FALL IN GOLD PRICES.
SELL SILVER MAR BELOW 28600 SL 28760 TGT 28532-28475-28290-28340-28265.
SUPPORT FOR SILVER IS AT 28610 AND RESIST IS AT 28840.
LAST WEEK AS MENTIONED SILVER LOOK TO TAKE SUPPORT AT 18.40$ AND 17.85$ WILL WAIT FOR TGT.
