Expect some profit booking here...
http://predictingfortunes.blogspot.com/2010/09/silver-spot.html
Silver Spot
As per our previous recommendation dated 8th September, 2010 of going Long on Silver Spot, first target of $ 20.50 has been achieved.
Hence, in our view, profits on long positions (as per our previous recommendation) should be booked at the current levels and fresh long positions should be initiated on dips. Further, if prices continue to hold at the levels of $ 20.50/60 we could see an extended rally till $ 21 – 21.23.
Strong support is at $ 19.81 (Previous top) as seen on the chart above if this support is breach then price could test the next support at $19.40.
Strategy -- Go long targeting $ 21-21.23, with the stop loss closing below $ 19.80
