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Markets

Silver Technical Precious Metals (2011-08-12)

Morning Report Silver is fluctuating heavily since two days as shown on the chart, while this fluctuation didn't specify any exact trend. RSI 14is trading below 50.00 points within sideway range, and Stochastic is inclining but still weak though. The metal is stable between SMA 20 and 50 most of the time. Therefore, we will stay neutral, awaiting more confirmations regarding the next major trend. The trading range for today is among the key support at 35.30 and key resistance now at 40.40 The short-term trend is to the downside targeting 26.65 as far as areas of 48.50 remain intact with weekly closing. Previous Report Weekly Report

Support 38.50 38.25 37.95 37.30 36.75
Resistance 39.20 39.75 40.10 40.40 40.90
Recommendation Based on the charts and explanations above, we recommend observing silver for more confirmations regarding the short-term 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.

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