Fundamental analysis for precious metals silver - 12/15/2008

15 December 2008 @ 02:51 am EDT

Once again, silver is trading below the key support for the sideways triangle attempting to breach it to reach 11.05. We should monitor the intraday trend as the metal is declining due to trading below the mentioned resistance at 10.46 however the breach of this level will open the way for the metal to reach its targets gradually.

The trading range for today is among the key support at 9.67 and the key resistance at 11.05

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

Support10.34 10.05 90.93 9.89 9.80
Resistance10.44 10.46 10.55 10.73 11.01

Recommendation

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