Silver - technical forecast

02 December 2009 @ 10:04 am EDT

Silver closed higher on Tuesday and the high-range close sets the stage for a steady to higher opening on Wednesday. Prices closed nearer the session high today and hit a fresh 16-month high. The silver bulls still have the near-term technical advantage and gained more upside momentum today. Stochastics and the RSI remain bearish hinting that a short-term top might be in or is near.

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