Day trading course Silver Consolidation to $40.  The Silver market has been quite fun this past week as Sellers faced new margin limits and some of the biggest shorting positions have been played out.

Day trading course Silver day trading tips

Silver showed support at 33.03 as the swing low, many buyers stepped in at the $34 mark.

$37-38 is providing some resistance on the retracement.

$39.50 is the next area of resistance  and then $41.50 which about a 50 % re tracement of this past weeks price action.

Watch for a formation of a bear flag with a small sell off to the 34-36 area.  If buyers take it through here, we can see an area of consolidation moving to the 50% retracement.

Watch out for headfakes during the slow periods.  Remember low volume can have very quick moves as there are not many orders on the side lines.