Silver has been moving toward key floor support at the 26.05-43 area. On Friday, the low reached 26.57. Today, the low could only extend to 26.63. The failure to break lower, has led to a quick move to the upside in the last hour or so of trading. Although quick (especially in light of the non trending nature that prevailed before the move), thespike higher has found willing seller against the 100 hour MA at 27.56 . Staying below this MA level keep the sellers in control.
I would expect stops on a move above with 27.81 (38.2% ) and the 200 hour MA at the 28.14 the next stops, but untl then, look for sellers against the clearly defined risk.
