Silver getting ready for the next push higher?
Silver (Sep 16) has had a very good 2016 so far, and is set to break higher still in the coming weeks according to the chart.
We ended 2015 trading down at $13.60 which was an important area on the longer term charts, and then in April we broke above a downtrend line as per our weekly chart. Since then we've rallied to hit the $20 market recently, although the last month or so has seen a consolidation sideways between $19.25 and $20.85.
Management and risk description
Entry: Buy at market (currently 20.22)
Stop: On a close below 19.90.
Targets: 22.70 and 24.90.
Time horizon: 2 weeks to 2 months.
Chart 1: Daily showing the gap at 19.90
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