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Fundamentals

Fundamental analysis for precious metals silver - 8/19/2008

19 Aug, 2008 @ 03:21 am EST
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Breaking the 12.80 level ended the upside correction and reversed the trend on the short term to the downside alongside the medium term trend which is also to the downside after breaching the 16.00 level. We expect fluctuations today on the short term but with trading above the 12.80, the metal will target the 12.05 as an initial taret.

The trading range for today might extend among the support level at 11.48 and the resistance level at 14.00

The general trend remains to the downside as far as 18.30 remains intact with targets at 12.50 and 10.50

Support12.55 12.05 11.48 10.76 9.85
Resistance12.80 13.10 13.50 13.80 14.00

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