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Lambert: Looking for the silver lining

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Clive Lambert from FuturesTechs is targeting lower levels in silver following a 6 percent drop on Monday. The price of silver slipped to its lowest level since 2009 after Swiss voters rejected a proposal to increase the country’s gold reserves over the weekend. Gold prices also fell 2 percent following the announcement.

Clive is looking to sell around current price levels around USD 16.50. He cautions that there is resistance located around: USD 16.60, USD 16.80, and USD 17.00. Given the multiple resistance levels he purposes placing a stop above USD 17.00. Targets for the trade are USD 15.20 and USD 14.20.

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