Silver Technical Precious Metals (2011-12-22)

Morning Report Despite the bullish attempt provided yesterday, the metal returned to settle in areas below the resistance at 29.70. This is a negative sign and suggests that the metal doesn't have sufficient momentum to negate the effect of the rising wedge pattern, and in result we expect silver to provide another bearish attempt today. The trading range for today is among the key support at 27.10 and key resistance now at 31.00. 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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