Silver Spot Price Chart - Spot Silver Daily 7th January 2010

Spot silver prices continued there healthy start to the new year with another day of gains, ending the silver trading session with a narrow spread up candle which flirted with the lower level of a significant resistance level in the 18.25 per ounce region. With yesterday’s candle breaching the 40 day moving average, and with the 9 day average crossing above the 14 day moving average on the daily silver chart, the technical picture looks positive for spot silver, and should we see a break and hold above the $18.75 per ounce price point in due course, then this should provide the platform for a sustained move higher to retest the $19.25 per ounce level once again and from there break out into new high ground in due course. With a deep and wide level or potential support now sitting below in the $17 to $18 per ounce price region, this adds a further degree of comfort to the move higher, with any short term reversal lower now supported from below.

What is the best platform for silver trading?  In my view it is Metatrader 4.  Download your free demo copy of the metatrader 4 software by clicking on the following link, download metatrader free, and get started today.

Leave a Reply