Weekly Report 15 -19 / 02 / 2010

The lower line of the bullish channel that has controlled the movements from 8.45 zones to the recorded high of 19.45 has been breached, seen on the weekly chart. Classically speaking, a double top pattern has been detected, targeting 13.90 zones and therefore, potential bearishness might bee seen duringthisweek.

The trading range for this week is among the key support at 13.90 and key resistance now at 17.35.

The general trend is to the upside as far as 12.45 remains intact with targets at 20.15.

Previous Report

Support15.2515.0014.8014.6014.50
Resistance15.6015.7715.8515.9516.25
RecommendationBased on the charts and explanations above our opinion is, selling silver from 15.60 targeting 13.90 and stop loss above 16.65 might be appropriate