FX.co ★ Short-term forecast and intraday recommendations on Silver for June 23-27, 2014

SILVER

Silver gave a base triangle breakout on a weekly and daily charts, the height of the triangle is at $6.87. The short-term targets attracting to higher levels are at $22.14-$22.80 (200-month Ema), $25.85, $28 and $30 levels. It has strong support at $20.50 (50-week Sma), below this, it has next support at $20.35 and $20 levels.

The daily momentum oscillators are indicating overbought signs. In Asia the metal opened on a slightly bearish note higher. It has support at $20.60-$20.55, below this, $20.40, $19.95 and $19.60-$19.40 levels.