Silver scalping levels for Tuesday

Jason Sen DayTradeIdeas.co.uk

Silver

Silver is lacking any direction after the October downside correction.
We held 12 ticks above resistance at 4890/4900 so shorts certainly worked & as I warned you the break below 4875 was a sell signal targeting 4790/70 for profit taking on shorts.
The short trade worked perfectly with a low for the move as I write at 4761.
In fact we wrote: A bounce from here is certainly possible but longs need stops below 4755.
If you are long from 4790/4770 the profit target is 4825/4830.
Resistance at 4840/4850 could see a high for the morning but shorts need stops above 4865.
A break higher can target resistance at 4885/95. Shorts need stops above 4915.
Just be aware that a break below 4755 targets 4700/4680.
Good luck scalping these levels through the consolidation while we wait for the next short term trend to start.

Author

Jason Sen

DayTradeIdeas.co.uk

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