Buy stop 3 at 22.13, Objs: 22.27/22.67/23.29, Stop: 21.99
Monitor the short-term consolidation near the support at 21.21.
• Silver is moving in a short-term horizontal range between the support at 21.21 and the resistance at 22.11 (38.2% retracement of the decline from 23.42 (19/09/2013 high)). Another resistance is at 22.87 (intraday high), while another support can be found at 20.63.
• The failure to break the strong resistance area between 24.87 and 26.07 (26/09/2011 low), coupled with the subsequent decline, favour the start of a medium-term phase of weakness. Key supports are at 20.63 and 18.23.
[You must be registered and logged in to see this link.]• Silver is moving in a short-term horizontal range between the support at 21.21 and the resistance at 22.11 (38.2% retracement of the decline from 23.42 (19/09/2013 high)). Another resistance is at 22.87 (intraday high), while another support can be found at 20.63.
• The failure to break the strong resistance area between 24.87 and 26.07 (26/09/2011 low), coupled with the subsequent decline, favour the start of a medium-term phase of weakness. Key supports are at 20.63 and 18.23.