May silver futures closed up 50.0 cents at $36.16 an ounce yesterday. Prices closed near mid-range yesterday and did close at a fresh contract and 31-year high close yesterday. The silver bulls have the strong overall near-term technical advantage. There are still no early technical clues to suggest a market top is close at hand. Prices are in a steep six-week-old uptrend on the daily bar chart. The next downside price breakout objective for the bears is closing prices below solid technical support at $35.00. Bulls' next upside price objective is producing a close above solid technical resistance at $37.50 an ounce. First resistance is seen at yesterday's high of $36.44 and then at Tuesday's high of $36.55. Next support is seen at this week's low of $35.51 and then at $35.00.
Aishi Prisha Financial Advisory Services (Channel Partner Angel Broking Ltd - Fortune Trading Corp ) Expertise - Commodity - Forex - World Indices - Futures - Options - Stocks - Trading Strategies - Live Trading Signals Financial Markets World Wide
Disclaimer: Ours is an advisory role. The final decision and consequences based on our information is solely yours. Moreover, in keeping with regulatory guidelines, we do not guarantee any returns on investments. Prospective investors and others are cautioned forward-looking statements/predictions and may be subject to change without notice.
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3 comments:
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Unlike gold, trading silver may need less money to invest. Yet, the reward can be equal.
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Unlike gold, trading silver may need less money to invest. Yet, the reward can be equal.
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