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Today's Scenario:
The bounce extended and ended at 27.93 with some positive news coming from the meeting in the EU zone.Will this meeting have a long term effect on the markets? Chances are rare because since May 2010 there have been 18 EU summits all aimed at providing a solution but none succeeded,rather making the situation more worse.Now lets get back to silver the pattern of the bounce is impulsive,which means it might further extend into the 28.84-29.25 zone,while any fall below 26 would signal the resumption of the bear trend.Support at 26.85-26.35. Have a great trading day ahead.
P.S-Please note i don't have any bias and i am not an all time bear its just that the worldwide financial markets are now in a dire hard to bail out situation with so much unsustainable debt load.
The bounce extended and ended at 27.93 with some positive news coming from the meeting in the EU zone.Will this meeting have a long term effect on the markets? Chances are rare because since May 2010 there have been 18 EU summits all aimed at providing a solution but none succeeded,rather making the situation more worse.Now lets get back to silver the pattern of the bounce is impulsive,which means it might further extend into the 28.84-29.25 zone,while any fall below 26 would signal the resumption of the bear trend.Support at 26.85-26.35. Have a great trading day ahead.
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