Silver Technical Precious Metals (2011-12-08)

Morning Report Silver is trading narrowly in areas below 32.95. Stochastic provides positive crossover, but on the other hand RSI is stable below the 50-point level, which in result reflects technical conflict. But in general, consolidation below 32.95 drives us to expect a downside movement, supported by the rising wedge pattern. The trading range for today is among the key support at 29.55 and key resistance now at 33.75. The short-term trend is to the downside targeting 26.65 as far as areas of 48.50 remain intact. **New York Candlesticks** Previous Report Weekly Report

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.

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.