silver
The silver moved yesterday in a balanced move with tendency towards the downside which could be due to the strong resistance at 13.00 and the major support at 12.70s. The silver therefore is expected to remain quiet with no major move.
The trading range for today will be between the key resistance at 13.10 and the key support at 12.65.
The general trend is up as far as 12.25 remains intact targets now at 14.20 and 14.50, then at 15.00.
It seems 12.70s is a little bit high. Last low at 12.15 is probably the new support until next month. And I think the general up trend has hit the ceiling around 14.8 last Feb/March and it's down trending now.
Last edited by fireflies; 07-14-2007 at 02:58 AM.
Wouw I was wrong. Although I still feel its general trend is bearish, but currently it's still very strong. I expect current price around 13.25 has a very strong resistance. We'll see in few days wether it really has, or breaks yet another barrier.Originally Posted by fireflies
i think it will break another barriers
i think silver market is going to be more tight than gold,
am i correct?
what about today's silver support?
yes i see it it is in balance point
but i think it will down about balance point ..
The short and medium term trends are bullish while the long term trend is sideways.
Support: $15.440 (yesterdays low) Resistance: $16.390 (low of 06/08/09)
Support: $15.130 (low of 29/05/09) Resistance: $16.210 (high of 08/08/09)
Support: $14.620 (low of 28/05/09) Resistance: $16.003 (yesterdays high)
Silver's rally resumes after brief retreat and reaches as high as 16.25 so far, meeting mentioned 16.08 target. Intraday bias remains on the upside for the moment and further rise could be seen to 100% projection of 8.4 to 14.635 from 11.725 at 17.96 next. On the downside, below 15.44 minor support will turn intraday outlook neutral first but after all, as long as lower channel support (now at 15.14) holds, recent rally should still be in progress.
The silver in global market , which normally set prices in domestic markets, fell 0.41 percent to usd 24.30 an ounce, after touching usd 24.92 on oct 14 the highest level for 30 years.
silver between middle of barrier levels 1.5711 and 1.5648, it mean pair still in flat or horizontal trend movement but if pair success break one of barrier levels so it became new trend so I think better put pending order buy stop above upper barrier level for this bullish trend
strong points 34.51 and 32.96 became upper and lower barrier for pair after broke trend , but to ensure that pair make bearish trend not yet enough confirmation step so one more step is pair must break successfully below lower barrier level so better put pending order sell stop below this level
level 33.15 became important point level for silver because this is the most important step to confirm that this pair make strong bearish trend and pair still to try to make break below this lower barrier level and I think better to put pending order sell stop below this lower barrier to anticipate this downtrend scenario
strong barrier level at 33.15 became critical point level as last step confirmation for this pair to determine if pair successfully break this below lower barrier can became strong bearish and if fail break it became reversal to make bullish continuing so I prefer to put pending order sell stop below this lower barrier level
XAUGUSD now still so difficult to make bearish because level 33.15 not yet broken and now silver still sideways or flat movement and it became strong consolidation so if pair success break below this lower barrier level it became strong downtrend movement so better to put sell stop below this level
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