Silver Slips Below $20 from Nine-day High

iNVEZZ.com reported that although silver reached a nine-day high of $20.13 yesterday, today it has slipped under $20 due to pressure from short sellers.

As quoted in the market news:

Silver yesterday moved inside its 3-hourly Ichimoku cloud and the Senkou Span B has so far acted as resistance. Although the price today slipped below the kijun-sen and tenkan-sen, the bearish signals can be categorized as weak because they occurred inside the cloud.

‘The rise of silver’s intraday lows since March 27th highlights a shifting balance of near term risk as bearish momentum indicators continue to moderate’, opine technical strategists at ScotiaMocatta.

Click here to read the full iNVEZZ.com report.