Silver – 8 hour chart update 10:15 PM CST

In Asian trading, silver is continuing to push higher building on its gains from the New York session in what appears to be further confirmation of the metal carving out a new consolidation zone at a higher level.

The top of this new zone is shy of $38 with the bottom down near $37 and slightly below there. Upside volume is picking up which is positive but until the market can strongly clear $38 and maintain that, the new leg higher is elusive.

Note that the indicator is moving into giving a buy signal

snapshot-582.png

http://traderdannorcini.blogspot.com/2011/03/silver-8-hour-chart-update-1015-pm-cst.html

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This entry was posted in Dan Norcini, Silver, Technical Analysis, Trader Dan's Market Views. Bookmark the permalink.

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