Articles


  • SILVER - Weekly Report



    By icn.com

    News Date: 17/6/2013 06:44:14
    Short Term trend: Bearish
    Weekly Bias: Bearish

    Silver spiked above 22.00 level on Friday, but retreated to close the trading session below the level, forming a long upper shadow candle, and hinting the bearish bias continues to be favored. Accordingly, we maintain our bearish view for the metal, eying a retest of 20.00 area.

    ** Short term ( Less than three months)
    ** Chart is based on GMT+2 timing

    Notes:
    *if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore.
    Support 21.50 21.00 20.80 20.15 20.00
    Resistance 22.10 22.55 22.85 23.10 23.35
    Recommendation Based on the chart and explanations above, we believe that selling the metal around 22.10 targeting 21.00 and 20.15 and stop loss at 23.00 could be appropriate this week.


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