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    Silver breaks psychological $20.00 level Ivan Delgado

    Silver has broken above the psychological $20 in Asia, extending its bullish momentum towards $20.43, new high not seen in more than 2 years. The Brexit outcome, which has affirmed the low-yielding tendencies in bonds and heightened risk aversion, has undoubtedly assisted both gold and silver.It is worth noting that from a long term persepctive, the metal has breached an important multi-month declining trendline. The next level of resistance should be found circa $20.50 ahead of $21.00, while on the downside, $20.00 is the key area to protect now, ahead of $19.50.



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