Silver flirting with $44

Silver flirting with $44

by Trader Dan
Silver has made an approach to its next resistance level near $44 which it will have to clear to set up a run towards $46. Its prior pattern has been to make an approximate $2 increase, pause, move sideways and consolidate, and then make the next leg higher as it stairsteps its way upward.

I am a bit concerned by the huge volume earlier in the session but that is only because the market has moved so far, so quickly. Also, we are beginning to see an increase in rollover activity which is going to exaggerate volume readings until we get to the first of May so that has to be taken into account as well when we look at these things.

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

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s