Silver trading in 2000 points range between 56000-58000 since last two weeks.
It is also developing ascending triangular formation with upper trendline resistance at 58500 and support at 56000. It also coincides with Ichimoku support level at 56300.
Weekly support also stands at 56000 below which it can take down to 55100(200EMA).
The upper channel which started forming from last week of september 2011(see the OHLC chart below) is still in tact and the present ascending triangular pattern(see the candle chart below) adds fuel.
Trading levels
55130 << 56400 << 56000 >> 57600 >> 58500 >> 59800
Silver Candle Chart Daily time-frame
Silver OHLC Chart
Silver Ichimoku chart
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