Silver Wednesday 13th March 2014

Silver is still trading within the downward triangle. However 20.50 has been showing solid support as well as previous solid resistance. Yesterday there was a strong bullish daily candle close and now over the next few days, I am looking for a break of this triangle to the upside aiming for the 22.16 levels. From there I would be looking to target the 23.00 level (being choppy along the way nonetheless moving to the upside).

Ultimately, looking to reach the 25.00 level however I do see a large retracement before reaching those prices.

I am currently long from yesterdays close.