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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.



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