Monday, May 9, 2011

Day trading course Silver Consolidation to $40

Day trading course Silver Consolidation to $40.  The Silver market has been quite fun this past week as Sellers faced new margin limits and some of the biggest shorting positions have been played out. [caption id="attachment_3755" align="alignleft" width="251" caption="Day trading course Silver day trading tips"]Day trading course Silver day trading tips[/caption] Silver showed support at 33.03 as the swing low, many buyers stepped in at the $34 mark. $37-38 is providing some resistance on the retracement. $39.50 is the next area of resistance  and then $41.50 which about a 50 % re tracement of this past weeks price action. Watch for a formation of a bear flag with a small sell off to the 34-36 area.  If buyers take it through here, we can see an area of consolidation moving to the 50% retracement. Watch out for headfakes during the slow periods.  Remember low volume can have very quick moves as there are not many orders on the side lines.  

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