Monday, August 12, 2013

Silver clears 50 day moving average- Silver, Spot, Daily. 12.Aug.2013

Will silver continue it's grind higher and kiss the 200 day moving average which appears to converge at the stout resistance around the 26.00 mark before another reaction occurs? Too optimistic? Then perhaps it will fail at the 22.00 mark which is the top of the down trending line. However, if it breaks to the upside from here and gets out of this down trend range, then I suppose that there will be a higher chance of challenging the 26.00 zone (previous strong support turned resistance level).