Silver - Daily technial Forecast

By IBTimes Staff Reporter | March 18 2010 9:52 AM

Sponsorship Link

Silver closed higher on Wednesday as it extends this week's rebound. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning bullish signalling that sideways to higher prices are possible near-term. If it renews the rally off February's low, the 75% retracement level of the aforementioned decline crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted.

More in Commodities

Global Fish Prices Hit Record Levels As Demand For Premium Seafood Spikes In China

Global Fish Prices Hit Record Levels As Demand For Premium Seafood Spikes In China

Gold Bubble For Real Says Societe Generale, Calling For $1,200/Oz. In Q4

Gold Bubble For Real Says Societe Generale, Calling For $1,200/Oz. In Q4

EU Regulators To Approve $8.2 Billion Merger of NYSE And ICE, Two Of World's Biggest Financial Exchanges: Report

EU Regulators To Approve $8.2 Billion Merger of NYSE And ICE, Two Of World's Biggest Financial Exchanges: Report

Recent Gold Slump Triggers Buying That Could Send Metal To $1,600 by year end: Analysts

Recent Gold Slump Triggers Buying That Could Send Metal To $1,600 by year end: Analysts

In Depth

New Eco-Friendly Battery Made of Wood And Sodium Can Be Charged More Than 400 Times

A Tiny Battery Made Of Wood That Lasts Really Long

World Bank Report Maps Disastrous Outcomes of Climate Change in Africa, South Asia And South East Asia

World Bank Report Shows Disastrous Outcomes of Climate Change

Where Is Jimmy Hoffa Buried? Not In Former Farm In Detroit Suburb After 3-Day FBI Search [VIDEO]

Jimmy Hoffa's Body Not Found - Again

Michael Hastings Conspiracy Theories: Car Accident And Dead Body Fuel Speculation On Reddit, Twitter

Michael Hastings Death: Conspiracy Theories Abound As Investigation Continues

web counter