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Silver Trading Spot Silver 22 Sep 2010

spot silver price

Spot Silver Chart 22 Sep 2010

The pull through effect from gold continues to exert its strong influence as spot silver closed higher once again yesterday ending the silver trading session as a wide spread up candle with a wick to the lower body which provided further clear evidence that the current bullish trend in the industrial metal remains firmly in place.  This was evidenced by the test to the downside which was promptly supported by the 9 day moving average as a result and with the 14 day immediately below both indicators are pointing steeply higher with the 40 and 200 day also now turning sharply higher.  The next key price for spot silver is the high of March 2008 when prices reached $21.34 per ounce and should this be breached this will inject further momentum in the longer upwards trend and help to propel spot silver into new high ground as a result.