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Fundamentals
Fundamental analysis for precious metals silver - 7/2/2008
02 Jul, 2008 @ 03:21 am EST
As we mentioned earlier, the upside trend gave silver the opportunity to further extend the wave. The bullish movements will remain as the metal will face the resistance at 18.30 where this level represents the resistance that separates the trends and could give prices enough strength to soar. The reverse from that point however will result in sideways trading in the medium term.
The Trading range for today is between the key support at 17.00 and the key resistance at 19.10.
The general trend is to the downside as far as 14.50 remains intact; target at 20.90.
| Support | 18.00 | 17.85 | 17.50 | 17.00 | 16.70 |
| Resistance | 18.35 | 18.45 | 18.75 | 19.10 | 19.70 |
Recommendation | ... | ||||
Comments
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