Silver buying opportunity at at $64.00 [Video]

Jason Sen DayTradeIdeas.co.uk

Silver

Silver broke support at 8320/8220 & crashed again to targets of 8030 & 7830/7800 but broke last week's low at 7132 to hit 6400.
Looks like we are establishing a short term bear trend so gains are likely to be limited.
First resistance at 7030/7090 but a break above 7150 allows a recovery to 7450/7500 & perhaps as far as resistance at 7700/7800.
Shorts need stops above 8000.
WE HAVE VERY IMPORTANT SUPPORT AT 64.00/63.00 & we have already made an over night low here.
On a retest today, try longs with stop below 6150.
Just be aware that a weekly close below the 100 day moving average at 6330/6300 would be a sell signal for the start of next week.
Initially we could fall to 6000/5950 & then test 6 month trend line support at 5830/5770.

Author

Jason Sen

DayTradeIdeas.co.uk

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