Silver – Pausing Before Another Leg Higher

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Silver – Pausing Before Another Leg Higher

By: MIG Bank | Tue, Feb 28, 2017

Silver has finally exited an area where bearish pressures seem important. The precious metal is way into a bullish momentum. Hourly support can be located at 17.75 (14/02/2017 low) then 16.63 (27/01/2017 low). Expected to reach 19.00 in the medium-term.

In the long-term, the death cross indicates that further downsides are very likely. Resistance is located at 25.11 (28/08/2013 high). Strong support can be found at 11.75 (20/04/2009).

Daily Technical Report

 

 

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Published at Tue, 28 Feb 2017 06:43:42 +0000

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