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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
Archive
- Hold Gold?
Published On Mon, Nov 23 2009, 13:41 GMT - Where Now, Mr. Dow?
Published On Tue, Oct 20 2009, 15:00 GMT - Gold Hits Key Level
Published On Mon, Sep 14 2009, 14:18 GMT - What's Next for Gold
Published On Thu, Jul 2 2009, 15:26 GMT - New Lows for the Dow - Where is the Bottom?
Published On Fri, Mar 6 2009, 10:42 GMT
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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.
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