Fundamental analysis for precious metals silver - 11/14/2008

14 November 2008 @ 02:51 am EDT

Silver fell to reach the 38.2% extension where it rebounded quickly to the upside yet we see movements for today will be fluctuating unless the metal breaced the 8.79 or 10.05 levels.

The trading range for today is among the key support at 9.41 and the key resistance at 10.54.

The general trend is to the downside as far as 14.70 remains intact with targets at 8.05 and 7.60.

Support9.25 9.12 8.92 8.79 8.52
Resistance9.76 9.84 10.05 10.45 10.54

Recommendation

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