Continuing my post about Silver, these are my additional prediction about Silver:
- From the daily chart above, I can see that there is a clear Bullish Divergence shows up, that means most likely Silver is making a reversal, or at least a significant correction to the north. I think the journey to the north is not over yet.
- Silver has entered the very strong support level area at price 26 which means there should be a bounce happens.
- There is big probability, Silver will go up to at least the area of 23.6% Fibo which has also been the sideways area for more than one month (grey ellipse), from 20 Feb to the last week of March. I think Silver will enter and test this area, which now acting as resistance area. This area will be my first taking-profit area.
So, as usual, keep good MM and put SL as your safety devices.
Trade well....
GG - 2013.04.11
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