SILVER outlook January 12, 2014

Silver’s daily trend is up as long as price is higher than 16,25. A breakout above the one-month high of 16,75 will open the door to $17,35. On the other hand 16,20/16,25 offers a nice area of price support, which, if violated will open the door to $16 and 15,50. One should keep in mind that the longer term trend is massively down of course.

Silver, daily chart:

Silver(Daily)20150112151438

Chart courtesy of http://www.investing.com

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