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Silver Breakout Looms

From dailyforex.com

I’m a buyer of silver on a break above the high of the Thursday candlestick, with a stop loss at the $35.25 level. I would aim for $37.50, but I would also keep the position size fairly small. During the trading session on Thursday, we have seen the silver market take off to the upside, breaking well above the crucial $35.48 level, which was a major swing high previously. At this point in time, I think we have quite a bit of interest in this market, as breaking above that swing high leads to a bit of a “air pocket” above. I think ultimately, part of the reason that we gave back some of those gains once the fact that ... (full story)

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  • Category: Technical Analysis