Fundamentals

The silver fell in the European session yesterday in a strong downside movement reaching to the major support level around the 50% Fibonacci or on 16.30 levels, but the positive momentum led the silver yesterday to the upside in a sharp reversal movement, where the silver reached to the key resistance level at 16.82; with expectations the silver will continue the upside movement.

The trading range for today is among the key support level at 16.00 and the key resistance level at 17.80.

The general trend is still to the upside as far as 13.20 remain intact, targets are set at 22.00 and 25.00.

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10/06/2008

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