Silver is trying to successfully breach the resistance level at 18.30 where if it builds a solid base above it, the metal will initiate a new upside channel targeting 18.65 then 19.25 which represent the 50.0% and 61.8% fibonacci retracements which also are the correctional lvels for the downside wave that started on May 14, 2008.

The Trading range for today is between the key support at 17.00 and the key resistance at 19.25.

The general trend is to the upside as far as 14.50 remains intact; target at 20.90.

Resistance18.40 18.53 18.65 18.70 19.25