OCT 31 FRIDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 16580 , S2 RS 16360
R1 RS 16850 , R2 RS 17080
STAY SHORT AT RESISTENCE.
Silver futures for December delivery fell 2 cents, or 0.2
percent, to $9.785 an ounce in New York. The metal is
down 34 percent this year while gold has declined
12 percent.
Primary support is at $ 9.56 and secondary support
is at $ 8.89 to $ 7.88.
Resistence is at $ 10.57 , $ 10.91 and $ 11.92.
Friday, October 31, 2008
Wednesday, October 29, 2008
UPDATES ON OCT 29 2008
OCT 29 WEDNESDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 16180 , S2 RS 15820
R1 RS 16430 , R2 RS 16680
WAIT FOR CONFIRMATION.
December silver fell 4.4% to $8.79 an ounce.
Silver kept tracking gold.
The metal slipped from $ 9.55 in Asia to
$ 8.75 in London before enjoting a steady
recovery throughout the New York session
where prices settled at $ 9.18.
The Primary support is at $ 8.86 and Secondary
support is between $ 8.63 to $ 8.19.
The Primary resistence is at $ 9.30
and secondary resistence is at $ 9.51 and $ 9.95.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 16180 , S2 RS 15820
R1 RS 16430 , R2 RS 16680
WAIT FOR CONFIRMATION.
December silver fell 4.4% to $8.79 an ounce.
Silver kept tracking gold.
The metal slipped from $ 9.55 in Asia to
$ 8.75 in London before enjoting a steady
recovery throughout the New York session
where prices settled at $ 9.18.
The Primary support is at $ 8.86 and Secondary
support is between $ 8.63 to $ 8.19.
The Primary resistence is at $ 9.30
and secondary resistence is at $ 9.51 and $ 9.95.
Saturday, October 25, 2008
UPDATES ON OCT 25 2008
OCT 25 SATURDAY
December silver fell slightly to $9.295 an ounce. It traded
at $8.65 earlier, the weakest since December 2005.
Silver fell 0.4% this week.
December silver fell slightly to $9.295 an ounce. It traded
at $8.65 earlier, the weakest since December 2005.
Silver fell 0.4% this week.
Friday, October 24, 2008
UPDATES ON OCT 24 2008
OCT 24 FRIDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 17020 , S2 RS 16860
R1 RS 7360 , R2 RS 17530
STAY SHORT AT RESISTENCE.
With gold losing ground silver was left vulnerable.
After first holding steady in Asia , range trading
between $ 10.20 and $ 10.04 , the metal came under
pressure dipping to $ 9.84 at the London PM fix
and later slipping to $ 9.75 at the New York close.
It then dipped to $ 9.40 in the after market before
losing more ground overnight to $ 9.35 .
Primary support is at $ 9.18 and secondary support
is at $ 8.96 to $ 8.35 .
Primary resistence is at $ 9.79 and secondary
resistence is at $ 10.18 to $ 10.79.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 17020 , S2 RS 16860
R1 RS 7360 , R2 RS 17530
STAY SHORT AT RESISTENCE.
With gold losing ground silver was left vulnerable.
After first holding steady in Asia , range trading
between $ 10.20 and $ 10.04 , the metal came under
pressure dipping to $ 9.84 at the London PM fix
and later slipping to $ 9.75 at the New York close.
It then dipped to $ 9.40 in the after market before
losing more ground overnight to $ 9.35 .
Primary support is at $ 9.18 and secondary support
is at $ 8.96 to $ 8.35 .
Primary resistence is at $ 9.79 and secondary
resistence is at $ 10.18 to $ 10.79.
Thursday, October 23, 2008
UPDATES
TECHNICALS FOR OCTOBER 23
MCX SILVER DECEMBER
SHORT TERM TREND ; BEARISH
LONG TERM TREND : BEARISH
SUPPORTS : 16980, 16760
RESISTANCES : 17280, 17400
STAY SHORT AT RESISTANCES
MCX SILVER DECEMBER
SHORT TERM TREND ; BEARISH
LONG TERM TREND : BEARISH
SUPPORTS : 16980, 16760
RESISTANCES : 17280, 17400
STAY SHORT AT RESISTANCES
UPDATES ON OCT 23 2008
OCT 23 THURSDAY
December silver lost 6.1% to $9.46 an ounce.
The metal saw some selling in Asia and Europe
pushing it to a low of $ 9.56.
Primary support is at $ 9.72 and secondary
support is at $ 9.34 to $ 9.00.
Primary resistence is at $ 10.20 and secondary
resistence is at $ 10.35 and $ 10.78.
December silver lost 6.1% to $9.46 an ounce.
The metal saw some selling in Asia and Europe
pushing it to a low of $ 9.56.
Primary support is at $ 9.72 and secondary
support is at $ 9.34 to $ 9.00.
Primary resistence is at $ 10.20 and secondary
resistence is at $ 10.35 and $ 10.78.
Wednesday, October 22, 2008
UPDATE
TECHNICALS FOR OCTOBER 22
MCX SILVER DECEMBER
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
SUPPORTS : S1 17480 , S2 17020
RESISTANCES : R1 17890 , R2 18090
WAIT FOR CONFIRMATION
MCX SILVER DECEMBER
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
SUPPORTS : S1 17480 , S2 17020
RESISTANCES : R1 17890 , R2 18090
WAIT FOR CONFIRMATION
Tuesday, October 21, 2008
TECHNICALS FOR NEW YORK TRADING
OCT 21 TUESDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 17120 , S2 RS 16860
R1 RS 17410 , R2 RS 17640
STAY SHORT AT RESISTENCE.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 17120 , S2 RS 16860
R1 RS 17410 , R2 RS 17640
STAY SHORT AT RESISTENCE.
UPDATE
TECHNICALS FOR OCTOBER 21
SILVER MCX DECEMBER
SHORRT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
SUPPORTS : S1 17520,,S2 17220
RESISTANCES ; R1 17640, R2 17890
WAIT FOR CONFIRMATION
SILVER MCX DECEMBER
SHORRT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
SUPPORTS : S1 17520,,S2 17220
RESISTANCES ; R1 17640, R2 17890
WAIT FOR CONFIRMATION
UPDATES ON OCT 21 2008
OCT 21 TUESDAY
December silver rose 3.8% to $9.69 an ounce.
Silver trading volumes were thin and very volatile.
Although the metal tracked gold silvers movement
were comparitively exagerrated.After pushimg
slightly higher in Asia silver dropped in European
trade from $ 9.90 to $ 9.60, consolidated for a while
and then dropped further to $ 9.20.
It managed some recovery in New York to close
at $ 9.34.
December silver rose 3.8% to $9.69 an ounce.
Silver trading volumes were thin and very volatile.
Although the metal tracked gold silvers movement
were comparitively exagerrated.After pushimg
slightly higher in Asia silver dropped in European
trade from $ 9.90 to $ 9.60, consolidated for a while
and then dropped further to $ 9.20.
It managed some recovery in New York to close
at $ 9.34.
Monday, October 20, 2008
UPDATES ON OCT 20 2008
OCT 20 MONDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 17120 , S2 RS 16860
R1 RS 17410 , R2 RS 17640
STAY SHORT AT RESISTENCE.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 17120 , S2 RS 16860
R1 RS 17410 , R2 RS 17640
STAY SHORT AT RESISTENCE.
Friday, October 17, 2008
NYMEX TRADING LEVELS
NYMEX TRADING LEVELS FOR OCT 17 FRIDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 17360 , S2 RS 17120
R1 RS 17710 , R2 17860
STAY SHORT AT RESISTENCE.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 17360 , S2 RS 17120
R1 RS 17710 , R2 17860
STAY SHORT AT RESISTENCE.
UPDATES ON OCT 17 2008
OCT 17 FRIDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND: BEARISH
S1 RS 17120 , S2 RS 16940
R1 RS 17560 , R2 RS 17740
SELL AT RESISTENCE LEVELS.
Silver tracked gold lower, slipping more than 7 percent
to a session lowof $9.50 an ounce. It was later trading
at $9.67/9.75.
Silver started the day steadily but drifting sideways
around the $ 11 level.A push lower in Europe saw the
metal find support at $ 10.80.But then liquidation set in
when US Markets opened pressing silver fast
towards $ 10.18. The metal failed to recover and
closed at $ 10.22.
SHORT TERM TREND : BEARISH
LONG TERM TREND: BEARISH
S1 RS 17120 , S2 RS 16940
R1 RS 17560 , R2 RS 17740
SELL AT RESISTENCE LEVELS.
Silver tracked gold lower, slipping more than 7 percent
to a session lowof $9.50 an ounce. It was later trading
at $9.67/9.75.
Silver started the day steadily but drifting sideways
around the $ 11 level.A push lower in Europe saw the
metal find support at $ 10.80.But then liquidation set in
when US Markets opened pressing silver fast
towards $ 10.18. The metal failed to recover and
closed at $ 10.22.
Thursday, October 16, 2008
UPDATES ON OCT 16 2008
OCT 16 THURSDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 17860 , S2 RS 17540
R1 RS 18210 , R2 RS 18470
SELL AT RS 18210 TO 18230
STOP LOSS RS 18470
TARGET RS 17860
December silver tumbled 88 cents, or 8%, to $10.18 an ounce.
Silver volumes were low although it managed
almost 40 c at the open in Asia , to as high as $ 11.10.
A few attempts to push silver above $ 11 failed and it
fell to $ 10.71 in New York.However buying at the
close pushed silver over $ 11 to $ 11.04.
US Retail sales data for Sptember is an important
data to watch for.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 17860 , S2 RS 17540
R1 RS 18210 , R2 RS 18470
SELL AT RS 18210 TO 18230
STOP LOSS RS 18470
TARGET RS 17860
December silver tumbled 88 cents, or 8%, to $10.18 an ounce.
Silver volumes were low although it managed
almost 40 c at the open in Asia , to as high as $ 11.10.
A few attempts to push silver above $ 11 failed and it
fell to $ 10.71 in New York.However buying at the
close pushed silver over $ 11 to $ 11.04.
US Retail sales data for Sptember is an important
data to watch for.
Wednesday, October 15, 2008
UPDATES ON OCT 15 2008
OCT 15 WEDNESDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 18620 , S2 RS 18480
R1 RS 18980 , R2 RS 19140
SELL AT RESISTENCE.
December silver rose 2.5% to $11.06 an ounce.
Silver rose throught the day ignoring golds decline
in US and Europe.After gaining $ 10.27 in Asia
to a high of $ 10.82 , the metal briefly gave up some
gains before US market opened towards $ 10.40.
At these levels buying resumed and Silver pushed
on to close at $ 10.73 .
Support continues in Asia with silver attempting
to break above $ 11.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 18620 , S2 RS 18480
R1 RS 18980 , R2 RS 19140
SELL AT RESISTENCE.
December silver rose 2.5% to $11.06 an ounce.
Silver rose throught the day ignoring golds decline
in US and Europe.After gaining $ 10.27 in Asia
to a high of $ 10.82 , the metal briefly gave up some
gains before US market opened towards $ 10.40.
At these levels buying resumed and Silver pushed
on to close at $ 10.73 .
Support continues in Asia with silver attempting
to break above $ 11.
Tuesday, October 14, 2008
UPDATES ON OCT14 2008
OCT 14 TUESDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 18680 , S2 RS 18380
R1 RS 18890 , R2 RS 19360
WAIT FOR RESISTENCE.
December silver rose 1.8% to $10.79 an ounce.
Spot silver climbed more than 5 percent to a session high of
$10.77 an ounce, up from $10.14 in late New York trade on
Friday. At 0846 GMT it stood at $10.67/10.75 an ounce.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 18680 , S2 RS 18380
R1 RS 18890 , R2 RS 19360
WAIT FOR RESISTENCE.
December silver rose 1.8% to $10.79 an ounce.
Spot silver climbed more than 5 percent to a session high of
$10.77 an ounce, up from $10.14 in late New York trade on
Friday. At 0846 GMT it stood at $10.67/10.75 an ounce.
Monday, October 13, 2008
UPDATES ON OCT 13 2008
OCT 13 MONDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 18310 , S2 RS 17980
R1 RS 18540 , R2 RS 18890
WAIT FOR CONFIRMATION.
Sllver held steady in the Londoan and Asian
ranging between $ 11.82 and $ 11.50 before
settling at 4 11.65.
Fund buying support pushed prices higher in the
New York session to $ 11.98 before settling at $ 11.82.
Silver rallied to $ 12.10 in the after market and $ 12.31
over night.
Primary Support is at $ 11.67 and secondary support
is at $ 11.26 to $ 10.53.
Primary Resistence is at $ 12.40 and Secondary Resistence
is at $ 12.72.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 18310 , S2 RS 17980
R1 RS 18540 , R2 RS 18890
WAIT FOR CONFIRMATION.
Sllver held steady in the Londoan and Asian
ranging between $ 11.82 and $ 11.50 before
settling at 4 11.65.
Fund buying support pushed prices higher in the
New York session to $ 11.98 before settling at $ 11.82.
Silver rallied to $ 12.10 in the after market and $ 12.31
over night.
Primary Support is at $ 11.67 and secondary support
is at $ 11.26 to $ 10.53.
Primary Resistence is at $ 12.40 and Secondary Resistence
is at $ 12.72.
Friday, October 10, 2008
UPDATES ON OCT 10 2008
OCT 10 FRIDAY
SHOR TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 19640 , S2 RS 19360
R1 RS 19880 , R2 RS 20070
WAIT FOR CONFIRMATION.
December silver rose 11 cents to end at $11.88 an ounce .
Silver held steady in Asia but tracked gold
throughout the London and New york session.
It climbed from $ 11.42 to $ 12.08 in London
before sliding to $ 11.61 and consolidating at $ 11.75
in New york.
A 6.93 % slide in LME Copper should increase
downside potential today.
Primary supportis at $ 11.42 and Secondary
support is at $ 11.23 to $ 10.73.
Primary Resistence is at $ 11.81 and Secondary
Resistence is at $ 12.11.
SHOR TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 19640 , S2 RS 19360
R1 RS 19880 , R2 RS 20070
WAIT FOR CONFIRMATION.
December silver rose 11 cents to end at $11.88 an ounce .
Silver held steady in Asia but tracked gold
throughout the London and New york session.
It climbed from $ 11.42 to $ 12.08 in London
before sliding to $ 11.61 and consolidating at $ 11.75
in New york.
A 6.93 % slide in LME Copper should increase
downside potential today.
Primary supportis at $ 11.42 and Secondary
support is at $ 11.23 to $ 10.73.
Primary Resistence is at $ 11.81 and Secondary
Resistence is at $ 12.11.
Thursday, October 9, 2008
UPDATS ON OCT 9 2008
OCT 9 THURSDAY
December silver jumped 43.0 cents to $11.81 an ounce.
Spot silver went out at $11.74 an ounce, versus the close
at $11.51 an ounce on Tuesday.
The Federal Reserve, the European Central Bank and four
other central banks lowered benchmark lending rates in
the face of the worst financial crisis since the Great
Depression. Equities in Asia and Europe fell, and
U.S. stock-index futures still headed lower.
Gold is up 9.5 percent this week.
Silver shadowed gold.Liquidity for silver is still
very little.Silver is batling for high ground as the
uncertainity about the economic outlook is
intimidating the metal.
Ptimary support is at $ 11.24 and Secondary
support is between $ 10.97 to $ 10.50.
Primary Resistence is at $ 11.81 and Secondary
Resistence is at $ 12.11.
December silver jumped 43.0 cents to $11.81 an ounce.
Spot silver went out at $11.74 an ounce, versus the close
at $11.51 an ounce on Tuesday.
The Federal Reserve, the European Central Bank and four
other central banks lowered benchmark lending rates in
the face of the worst financial crisis since the Great
Depression. Equities in Asia and Europe fell, and
U.S. stock-index futures still headed lower.
Gold is up 9.5 percent this week.
Silver shadowed gold.Liquidity for silver is still
very little.Silver is batling for high ground as the
uncertainity about the economic outlook is
intimidating the metal.
Ptimary support is at $ 11.24 and Secondary
support is between $ 10.97 to $ 10.50.
Primary Resistence is at $ 11.81 and Secondary
Resistence is at $ 12.11.
Wednesday, October 8, 2008
UPDATES ON OCT 8 2008
OCT 8 WEDNESDAY
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 19160 , S2 RS 18980
R1 RS 19340 , R2 RS 19570
WAIT FOR SUPPORT FOR FRESH ENTRIES.
Silver opened at $ 11.31 / 11.36 and tumbled as funds
dumped the metal responding to falling base metals.
Support was established near $ 11.15 as the metal
moved on the offensive.However this move was
temporary as investors dropped silver causing it
to plunge to a intra day low of $ 11/ 11.05.
It bounced from the low and traded erratically
for the reminder of the session closing at $ 11.20 / 11.25.
The pressure is on to test the September lows near
$ 10.32.
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 19160 , S2 RS 18980
R1 RS 19340 , R2 RS 19570
WAIT FOR SUPPORT FOR FRESH ENTRIES.
Silver opened at $ 11.31 / 11.36 and tumbled as funds
dumped the metal responding to falling base metals.
Support was established near $ 11.15 as the metal
moved on the offensive.However this move was
temporary as investors dropped silver causing it
to plunge to a intra day low of $ 11/ 11.05.
It bounced from the low and traded erratically
for the reminder of the session closing at $ 11.20 / 11.25.
The pressure is on to test the September lows near
$ 10.32.
Tuesday, October 7, 2008
UPDATE
TECHNICALS FOR OCTOBER 7
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
SUPPORTS : S1 18870, S2 18720
RESISTANCES : 19330, 19560
WAIT FOR CONFIRMATION.
Silver futures for December delivery fell 4 cents, or 0.4%, to
$US11.285 an ounce. The metal, which has wider industrial
applications than gold, tumbled 16% last week on speculation
a global recession will reduce demand for raw materials.
Silver initially found solid support in Asia.It gained $ 0.65 to
trade at $ 11.40 before it stabilised in europe.
Renewed buying support in New York saw the metal
shoot to $ 11.70 ,just to subside again when gold
lost steam .
Primary support is at $ 11 and Secondary support
is at $ 10.88 to $ 10.70.
Primary Resistence is at $ 11.65 and Secondary at $ 12.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
SUPPORTS : S1 18870, S2 18720
RESISTANCES : 19330, 19560
WAIT FOR CONFIRMATION.
Silver futures for December delivery fell 4 cents, or 0.4%, to
$US11.285 an ounce. The metal, which has wider industrial
applications than gold, tumbled 16% last week on speculation
a global recession will reduce demand for raw materials.
Silver initially found solid support in Asia.It gained $ 0.65 to
trade at $ 11.40 before it stabilised in europe.
Renewed buying support in New York saw the metal
shoot to $ 11.70 ,just to subside again when gold
lost steam .
Primary support is at $ 11 and Secondary support
is at $ 10.88 to $ 10.70.
Primary Resistence is at $ 11.65 and Secondary at $ 12.
Monday, October 6, 2008
UPDATES ON OCT 6 2008
OCT 6 MONDAY
SHORT TERM TREND : SIDEWAYS : TARGET RS 22300 TO 22880
LONG TERM TREND : BULLISH : TARGET RS 24800
S1 RS 22340 , S2 RS 22180, S3 RS 21900
R1 RS 22480 , R2 RS 22660 , R3 RS 22900
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Silver experienced one of the sharpest drop of
the past decade last Thursday bringing the price
to near the lowest in a year.
analyst say the short term indicators continue to
remain negative.It appears to be influenced
by the crude oil market which is trading near
$ 94 .Crude oil is near the lowest price in 6
months.it is also influenced by the US dollar
which seems show signs of recovering against
all major currencies.
SHORT TERM TREND : SIDEWAYS : TARGET RS 22300 TO 22880
LONG TERM TREND : BULLISH : TARGET RS 24800
S1 RS 22340 , S2 RS 22180, S3 RS 21900
R1 RS 22480 , R2 RS 22660 , R3 RS 22900
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Silver experienced one of the sharpest drop of
the past decade last Thursday bringing the price
to near the lowest in a year.
analyst say the short term indicators continue to
remain negative.It appears to be influenced
by the crude oil market which is trading near
$ 94 .Crude oil is near the lowest price in 6
months.it is also influenced by the US dollar
which seems show signs of recovering against
all major currencies.
Saturday, October 4, 2008
UPDATES ON OCT 4 2008
OCT 4 SATURDAY
Silver took a beating.
Morning trade was orderly with the metal tracking
gold , but the sell offs after gold's drop was
merciless.
Just before New York opened silver slid to $ 11.80.
After failing to settle it shed 50 c in US trade closing at
$ 11.05.
Primary support is at $ 11.00 and secondary support is
at $ 10.30 to $10.25.
Primary Resistence is at $ 12.00 and Secondary
Resistence at $ 12.18.
Silver took a beating.
Morning trade was orderly with the metal tracking
gold , but the sell offs after gold's drop was
merciless.
Just before New York opened silver slid to $ 11.80.
After failing to settle it shed 50 c in US trade closing at
$ 11.05.
Primary support is at $ 11.00 and secondary support is
at $ 10.30 to $10.25.
Primary Resistence is at $ 12.00 and Secondary
Resistence at $ 12.18.
Friday, October 3, 2008
UPDATES ON OCT 3 2008
OCT 3 FRIDAY
SHORT TERM TREND: SIDWAYS
SHORT TERM TREND: SIDWAYS
LONG TERM TREND : BEARISH
S1RS 20380 , S2 RS 20160
R1 RS 20740 , R2 RS 20980
STAY SHORT AT RESISTENCE.
SILVER DROPS ON DEMAND WORRIES.
Meanwhile, less-liquid silver plunged to $10.98 an ounce
before recovering a touch to trade at $11.07/11.15 an
ounce, down 11.6 percent from Wednesday's nominal
close of $12.52, tracking losses in gold.
silver plummeted on demand fears because of its industrial
metal attribute.
Primary support is at $ 12.35 and secondary support
is at $ 12.03.
Primary Resistence is at $ 12.90 and Secondary Resistence is
at $ 13.52.
Thursday, October 2, 2008
UPDATES ON OCT 2 2008
OCT 2 THURSDAY
December silver climbed 4% to $12.77 an ounce.
Silver opened on its day high and tumbled during
the early morning as dealers sold the metal and
bought equities.
Support was established at $ 12.20 , however this
level was not sustained as funds continued to dump
the metal driving it to a low of $ 12.17 / 12.22 where
it closed .
Silver plunged lower towards 11.79 in the after
market . The metal had been looking weak .
Analyst hold a bearish view with a risk of
a return to $ 10.32.
Primary support is at $ 11.63 and secondary
support at $ 11.06 to $ 10.20.
Primary resistence is at $ 12.90 and secondary
resistence is at $ 13.61.
December silver climbed 4% to $12.77 an ounce.
Silver opened on its day high and tumbled during
the early morning as dealers sold the metal and
bought equities.
Support was established at $ 12.20 , however this
level was not sustained as funds continued to dump
the metal driving it to a low of $ 12.17 / 12.22 where
it closed .
Silver plunged lower towards 11.79 in the after
market . The metal had been looking weak .
Analyst hold a bearish view with a risk of
a return to $ 10.32.
Primary support is at $ 11.63 and secondary
support at $ 11.06 to $ 10.20.
Primary resistence is at $ 12.90 and secondary
resistence is at $ 13.61.
Wednesday, October 1, 2008
UPDATES ON OC1 1 2008
OCT 1 WEDNESDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BULLISH
S1 RS 19920 , R2 RS 19760
R1 RS 20280 , R2 RS 20430
STAY SHORT AT RESISTENCE.
Silver for immediate delivery was up 0.9 percent at $12.14 an ounce.
Gold rose in Asia as the dollar's rally against the euro
stalled and crude oil advanced on speculation the U.S. Senate
will approve a $700 billion bank rescue plan later today to
revive credit markets.
Silver was range bound trading between $ 13.32 to $ 13.02
in Asia before sliding to $ 12.70 in London.
The metal gained support in New York rising to $ 13.37 before
falling to $ 13.
Support is at $ 12.72 with $ 12.37 and $ 11.70 as possibilities.
Primary resistence is at $ 13.39 and secondary resistence at
$ 13.72.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BULLISH
S1 RS 19920 , R2 RS 19760
R1 RS 20280 , R2 RS 20430
STAY SHORT AT RESISTENCE.
Silver for immediate delivery was up 0.9 percent at $12.14 an ounce.
Gold rose in Asia as the dollar's rally against the euro
stalled and crude oil advanced on speculation the U.S. Senate
will approve a $700 billion bank rescue plan later today to
revive credit markets.
Silver was range bound trading between $ 13.32 to $ 13.02
in Asia before sliding to $ 12.70 in London.
The metal gained support in New York rising to $ 13.37 before
falling to $ 13.
Support is at $ 12.72 with $ 12.37 and $ 11.70 as possibilities.
Primary resistence is at $ 13.39 and secondary resistence at
$ 13.72.
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