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Technical Analysis: Metals
3
0
Spot SILVER
Mon, Jan 26 2009, 17:20 GMT
by Nicole Elliott
Comment: Having unwound all of 2007 and 2008’s excesses, spot silver has spent many weeks since mid-October trying to form an interim base against the pivotal area around $9.00. A ‘rounded bottom’ was completed with last week’s close above $11.50. Slowly at first, then gathering speed, we expect prices to rally back up to $14.00/15.00, possibly gathering pace were it to break above here allowing the move to extend to the $18.00 area. Note that we expect it to outperform spot Gold, so that the ratio drops from 80.00, one Standard deviation from the mean since 1982, to 67.00/70.00.
A weekly close below $10.25 suggests the latest attempt at a rally has failed.
Published on Mon, Jan 26 2009, 17:22 GMT
Archive
- Spot PLATINUM
Published On Thu, Nov 19 2009, 08:23 GMT - Spot PLATINUM
Published On Wed, Jun 24 2009, 16:15 GMT - Spot GOLD
Published On Tue, May 19 2009, 09:42 GMT - LME 3-Month COPPER
Published On Fri, Mar 20 2009, 10:31 GMT - Spot SILVER
Published On Mon, Jan 26 2009, 17:20 GMT
Mizuho Corporate Bank
| 1-3-3, Marunouchi, Chiyoda-ku, Tokyo 100-8210
http://www.mizuho-cb.co.uk | Nicole.Elliot@mhcb.co.uk
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