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03.02.2013 10:27 AM
Silver: Uptrend remains intact. 29.22 major support

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Technical outlook and chart setups:

As depicted on the daily chart view here, the overall bullish structure remains intact. 29.22 is defined as major support (trend defining). There is still a possibility that prices fall towards the 30.30/50 region before rallying past fresh highs. At the moment, intermediary support is at 30.70/75 and should prices hold, Silver would rally towards 34.50/60 straight from here. It is recommended to buy on dips till 29.22 remains intact.

Trading recommendations:

Hold long positions, stop is at 29.00, and target is open.

Good Luck!

Summary
Urgency
Analytic
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