A generic image of a pen on a chart
Markets

Silver Technical Precious Metals (2011-05-31)

Midday Report Click on the image for a larger view Silver soared but still didn't breach 38.90 zones-38.2% of A wave- seen on the image. As far as trading continues between 38.90-36.35 the neutrality will be in favor waiting for a technical pattern to emerge or moving out from the aforesaid levels. The trading range for today is among the key support at 35.85 and key resistance now at 40.90. The general trend over short term basis is to the downside,targeting 26.65 as far as areas of 48.50 remain intact with weekly closing. Morning Report Weekly Report

Support 38.10 37.75 37.45 36.80 36.35
Resistance 38.90 39.25 39.75 40.20 40.85
Recommendation Based on the charts and explanations above our opinion is, staying aside until a clearer sign appears to pinpoint the upcoming big move.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities