Silver Technical Precious Metals (2011-12-14)

Morning Report The metal is facing the 30.55 strong support , where the downside move yesterday was halted at this level. The metal is range-trading however with a slight downside bias and this is well illustrated by the bearish technical pattern shown above, failing to settle above the 50-days SMA is also supporting the downside pressure, however, stochastic has entered oversold areas while around this important downside technical barrier, accordingly, we expect further downside pressure but may be preceded by some fluctuations. The trading range for today is among the key support at 28.40 and key resistance now at 33.05. 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.

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