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Silver: Work Off Momentum

From dailyforex.com

I am buying silver if it reaches $42.60, with a stop loss at $42, and a target of $44.60 level. Silver has gone back and forth during the trading session here on Thursday in the early hours as we continue to see a lot of consolidation and absorption of the bullish pressure. After all, we had shot straight up in the air and now we are just basically going sideways and doing nothing. If that is going to be the case, then I think eventually what we're doing is killing time before we can make our next move. If we were to pull back, I think the $40 level is a very strong candidate for significant support. After all, it's ... (full story)

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  • Category: Technical Analysis