Spot Silver price in New York turn back from Fibonacci retracement

Recovery in silver prices is running into resistance, with prices turning back from the 38.2% Fibonacci retracement at $32.66 to once again challenge the 23.6% level at $30.14. Also in line with its more expensive counterpart, the spotlight is on Ben Bernanke and the implications of his comments for Fed stimulus expectations. A break lower exposes $28.58.

Category: fibonacci retracement, Silver, silver chart, silver commodity, silver price, silver resistance, spot silver