July silver futures prices closed nearer session high and hit a four-week low

May 29, 2014

Chicago (May 29)  The silver bears have the solid overall near-term technical advantage. Silver bulls’ next upside price breakout objective is closing prices above solid technical resistance at this week’s high of $19.50 an ounce. The next downside price breakout objective for the bears is closing prices below solid technical support at the May low of $18.685. First resistance is seen at $19.155 and then at $19.25. Next support is seen at Thursday’s low of $18.78 and then at $18.685. Wyckoff's Market Rating: 2.0.

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