Weekly Report 04/07 -08/ 07/ 2011

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The trading range for this week is among the key support at 30.60 and key resistance now at 36.35.

The general trend over short term basis is to the downside,targeting 26.65 as far as areas of 48.50 remain intact with weekly closing.

Previous Report

Support33.9033.3032.9032.4531.95
Resistance34.3534.5035.0035.6536.00
RecommendationBased on the charts and explanations above our opinion is, selling silver around 34.35 gradually targeting 33.05,32.45 and 31.25 , while the stop loss is a daily closing above 35.65 might be appropriate.