Silver - Technical outlook

By IBTimes Staff Reporter | January 26 2010 3:55 AM

Sponsorship Link

Silver closed higher due to short covering on Monday as it consolidated some of last week's decline. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends last week's decline, December's low crossing is the next downside target. Closes above the 10-day moving average crossing are needed to confirm that a short-term low has been posted.

More in Commodities

Brent Lower on Ample Supply and Waning Demand

Brent Lower on Ample Supply and Waning Demand

Energy - Balancing the Bonanza: Interview with Mark Thoma

Energy - Balancing the Bonanza: Interview with Mark Thoma

Brent Slips Toward $100 on Strong Dollar and Weak Chinese PMI

Brent Slips Toward $100 on Strong Dollar and Weak Chinese PMI

Brent Dips on US Demand Woes

Brent Dips on US Demand Woes

In Depth

Whatever Happened To Libyan Oil? For Western Oil Giants, The Crude Is Sweet But China And Russia May Get The Biggest Taste

Two Years After Revolution, Whatever Happened To Libyan Oil?

The Euro Zone Economies Are Spiraling Down But By The Social Progress Index European Nations Beat The US For The Top Spots [CHART]

In Providing Basic Needs, Europe Bests The US

Africa's Economic Future Depends On Local Ownership, Entrepreneurship & Big Ideas

Africa's Economic Future Depends On Big Ideas

Afghanistan After The United States And NATO Leave: Economic Boomtown, Or A Disaster Waiting To Happen?

Afghanistan After The West: Boomtown Or Disaster?

web counter