Silver is moving broadly sideways after having successfully tested the strong support at 18.84. The recent succession of higher lows is intact, as can be seen by the successful test of the support at 19.26 (see also the rising trendline). Hourly resistances stand at 19.69 (19/05/2014 high) and 19.93. Another support lies at 19.05.

In the long-term, the trend is negative. However, the successful test of the support at 18.84 favours a short-term rebound. A first resistance stands at 20.41 (24/02/2014 high). Another key support is at 18.23 (28/06/2013 low).

Daily Technical Report