Silver heads to retest 22/02/2013

Silver price traded with some positive bias attempting to retest the previously broken critical supports, mainly 29.20 and 29.55, and as long as the price is below these levels, the bearish trend will be preferred on the short term basis, mainly targeting 27.00 followed by 26.10

Stochastic provides reasons for the current positivity, noting that breaching above 29.55 will put the price back to the upside track.

Expected trading range for today is between: 27.00 support and 29.55 resistance.

Expected trend for today: Bearish