Successful test thus far of the support at 20.63.
• Silver successfully tested the key support at 20.63 yesterday. Resistances for a short-term bounce are given by 21.68 (14/10/2013 high) and by the declining trendline (around 22.09).
• 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.
• Silver successfully tested the key support at 20.63 yesterday. Resistances for a short-term bounce are given by 21.68 (14/10/2013 high) and by the declining trendline (around 22.09).
• 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.
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