SILVER DAILY TREND ANALYSIS

As per this chart setup it seems that silver is moving a down trend for medium term that has been started since top of $49.785 made on 25-04-2011 and now moving in a channel after a bottom of 32.295 that made on 12-05-2011. This types of channel are known as bearish rectangle in the terms of technical analysis and if this time silver mange to hold below 32.90 then it will signal a resumption to its previous down trend that has been started since 25-04-2011 and this time silver may fall towards 26 to 24$ in near term but 31$ is looking a minor support there we can see some consolidation otherwise silver will try to head towards 26$ but a penetration of 26 that is horizontal support will supply more power to bears and silver may fall more till 22-18$ but after breaking that support only still looking weak on daily chart trader can use 39.30 as stop loss for their shorts for our expected target .

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