Silver price breaks $34 – now less than a buck from its 200 DMA
Silver wasn’t left out of the commodity party yesterday and rose some 3%. Silver managed to get as high as $34.44 – just 40 cents from its 200 daily moving average. You have to go all the way back September 22nd last year for the last time silver was at its 200 DMA.
Silver $:
(click for sharper image)
Silver has now rallied some 25% so far this year and it looks like the bulls have the bit between their teeth. That 34.8 200 DMA level is now so close it should be tested within the next week or so.
A close near the 200 DMA by month’s end will mean silver’s best monthly close in 5 months.
Related posts:
- Silver price now up 21% for the year so far
- Silver price holding steady above $30 – now up 10% on the year
- Silver: The battle for $32.2 rages on
- Silver now up 17% on the year
- Gold price breaks down through the 200 daily moving average
Link to this article: : http://www.goldmadesimplenews.com/gold/silver-price-breaks-34-now-less-than-a-buck-from-its-200-dma-6194/
Posted by Jason Cozens on Feb 22 2012. Filed under Analysis, Gold News, Markets, Silver News.
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