June 20, 2014
Silver recently rose sharply after the price failed to break below the strong support zone lying between the support levels 18.50 and 19.00. The sharp upward price impulse from this support zone broke the resistance trendline from February, the upper resistance trendline of the longer-term down channel from last year – as well as the resistance level 20.50.
Silver is currently trading close to 61.8% Fibonacci Correction of the previous minor impulse 1. If it breaks above this correction level – it can be expected to rise further to the next buy target at 21.20.
The post HY MARKETS News: Commodities Report: Silver appeared first on | HY Markets Official blog.
