•  
  • New York 17:43
  • London 22:43
  • Barcelona 23:43
  • Tokyo 07:43
  • Sydney 09:43
  • SignUp | Login

7

0

Silver Daily Technical Outlook

Thu, Nov 26 2009, 13:22 GMT
by Oil N' Gold Team

Oil N' Gold


Oil N' Gold

More Analysis and Technicals on Crude Oil, Natural Gas, Gold & Silver

Comex Silver (SI)

Silver's consolidation from 18.935 is still in progress and further sideway trading could still be seen. But after all, recent short term outlook will remain bullish as long as 18.035 support holds. Recent rise is still expected to extend further towards 19.55/21.55 resistance zone next. On the downside, touching of 18.035 will suggest that a short term top is in place and bring longer consolidations. But still, downside should be contained above 17.025 support and bring rally resumption.

In the bigger picture, whole medium term rebound from 8.4 is still in progress and should now be targeting 19.55/21.55 resistance zone. But after all, rise from 8.4 is treated as part of the long term, wide range, consolidation pattern that started at 21.44 back in Mar 08. Hence, upside is expected to be limited inside this 19.55/21.44 resistance zone and bring another medium term fall. On the downside, break of 16.12 will now be an important signal that silver has topped out in medium term already and will turn outlook bearish.

Comex Silver Continuous Contract 4 Hours and Daily Charts


Archive

Action Forex Company Limited  | Room 1707, 17/F Treasure Centre 42 Hung To Road Kwun Tong, Kowloon
http://www.oilngold.com/ | contact@oilngold.com

Legal disclaimer and risk disclosure

Oil N' Gold does not guarantee the accuracy of the reports and trading recommendations provided. Any market recommendations of, or information provided by Oil N' Gold do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any foreign exchange transaction.

Related reports

Stocks Getting a Boost as Speculators Await Greek Resolution by ForexHound.com
Tue, Feb 9 2010, 13:37 GMT

US Morning Briefing by RANsquawk
Tue, Feb 9 2010, 12:48 GMT

Crude Oil Daily Technical Outlook by Oil N' Gold
Tue, Feb 9 2010, 11:18 GMT

Gold nearly steady above 1060 $/oz by KBC Bank
Tue, Feb 9 2010, 11:08 GMT

Metals edge higher on the Euro but remain vulnerable by The Bullion Desk
Tue, Feb 9 2010, 09:01 GMT

silver, metals, commodities

[ View All ]

Related content

Forex: Currencies tied to commodities rise sharply
FXstreet.com | Tue, Feb 9 2010, 21:28 GMT

Stocks rallied; Dollar retreats
FXstreet.com | Tue, Feb 9 2010, 21:05 GMT

Oil Prices: Upside limited by $73.94 resistance - Oil and Gold
FXstreet.com | Tue, Feb 9 2010, 13:42 GMT

Metals strengthen in euro's wake
FXstreet.com | Tue, Feb 9 2010, 11:02 GMT

Spot Gold remains capped below $1,073//4 resistance area
FXstreet.com | Tue, Feb 9 2010, 09:01 GMT

silver, metals, commodities

[ View All ]

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2010 "FXstreet.com. The Forex Market" All Rights Reserved.