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| Global Interest Rates | |||
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7.25% | ||
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3% | ||
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Fundamentals
Fundamental analysis for precious metals silver - 5/22/2008
22 May, 2008 @ 02:51 am EST
Silver prices flew to 18.20$ per ounce targeting 18.70 with a very strong base even above the bands of the ascending channel it formed earlier, worth mentioning that the metal is already over bought yet the momentum is high to force it back even further.
The trading range is among the key support level at 18.70 and the key resistance level at 17.70.
The general trend is to the upside as far as 13.20 remains intact, with targets at 22.00 and 25.00.
| Support | 18.04 | 17.90 | 17.82 | 17.78 | 17.70 |
| Resistance | 18.22 | 18.35 | 18.42 | 18.56 | 18.70 |
Recommendation | |||||
Comments
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