The Commodities Corner
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Bottom−fishing on Gold & Silver
Fri, Aug 15 2008, 14:18 GMT
by Andrei Pehar
Gold and silver have both been tumbling in recent weeks. Is there a bottom in sight? There are certainly some likely candidates.
For gold, 795.25 is currently resistance and 774.33 is support. If support should give way, I expect to see a bottom, for now, at 730.23. If the bulls come rushing in, then additional resistance is waiting at 812.08 and 845.72
Silver, on the other hand, may have already touched its bottom. 12.68 is the most likely place for it to settle, however some possibility exists for 11.68 or 10.63 below that. Should it move to the upside, the most likely resistance levels are 13.94 and 15.99
Published on Fri, Aug 15 2008, 14:47 GMT
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