- Silver currently trading around 20.20
- Selling has been seen 50 cents higher around 20.70 over the past month
- Support levels: 19.09 (38%), 17.83 (62%), 16.94 (78%)
- Resistance level: 21.12 (high )
- Downside target: $18 (and possibly a test of the upward sloping 2016 currently above $17)
- Trade management: Sell within 20.17-76 with a stop (on daily close) above 21.12
For further insight and discussion please contact me via Tradingview or LinkedIn, on Twitter @James_LVDTA, and visit http://www.lexvandam.com to become a member of the Trading Club.
Do not get caught short precious metals as the case for owning gold appears to be regaining ground as USDJPY falls.
Lex and I discussed this in detail in our September Trading Club meeting produced recently for the month ahead, which became available to members yesterday. It might be worth taking a look if you are interested - http://www.lexvandam.com/en/trading-club