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Friday, December 28, 2012

Daily Silver Technical Update(DECEMBER 28,2012)

Silver Daily Technical Analysis and Outlook:

Prices bounced well reaching 30.50 a few cents short of our target zone around 30.59-30.72. The odds are high that prices must start coming down testing the support at 29.76-29.65 and 29.05-28.75 provided the old high at 30.50 is not breached. If it is then a move towards 30.82-31.14 would be the next likely outcome
Happy Trading..


Monday, December 24, 2012

Daily Silver Technical Update(DECEMBER 24,2012)

Silver Daily Technical Analysis and Outlook:

The bounce took off pretty well and tested the lower zone at 30.20. The bounce must most likely terminate around 30.58-30.72 zone. This upward price move will most likely be retraced completely and a break of 29.95-29.85 would be an initial signal of the lower prices ahead.
Happy Trading..


Friday, December 21, 2012

Daily Silver Technical Update(DECEMBER 21,2012)

Silver Daily Technical Analysis and Outlook:


It was an accelerating move to the downside. Silver tested the support zone around 29.76-29.65. Until this zone hold prices must bounce higher testing 30.22-30.60. While a break below the support zone would suggest a move towards 29.05-28.75 and 28.56-28.24 and a further break would signal a much lower move towards 27.56-27.25.
Happy Trading..


Thursday, December 20, 2012

Daily Silver Technical Update(DECEMBER 20,2012)

Silver Daily Technical Analysis and Outlook:

Silver turned down sharply as predicted in yesterday's update.Prices must now test the 30.65-30.43 range provided 31.85 holds.Resistance at 31.46-31.70 range.
Happy Trading..


Wednesday, December 19, 2012

Daily Silver Technical Update(DECEMBER 19,2012)

Silver Daily Technical Analysis and Outlook:

Prices rushed to the downside as soon as the $32.00  level was breached testing our target zone around 31.50-30.80. This price action must continue provided 32.60 holds.
Happy Trading..


Tuesday, December 18, 2012

Daily Silver Technical Update(DECEMBER 18,2012)

Silver Daily Technical Analysis and Outlook:


The rally did take place,now the target of this rally is around 32.75-33.05 provided the low at 32.00 holds.
And after this rally prices must start working lower testing 31.50-30.80 zone. However a breach of 33.80 would make us question this bearish outcome.
Happy Trading..


Monday, December 17, 2012

Daily Silver Technical Update(DECEMBER 17,2012)

Silver Daily Technical Analysis and Outlook:

The trend is still down. Prices came very close to the upper end of the mentioned target zone at 32-31.50. A minor rally towards 32.75-33.05 could be possible after which prices must continue working lower. However if 33.80 is breached on a closing basis then prices will have a bullish bias.
Happy Trading..


Thursday, December 13, 2012

Daily Silver Technical Update(DECEMBER 11,2012)

Silver Daily Technical Analysis and Outlook:

Prices turned back lower testing the resistance at 33.85. We retain our bearish outlook for silver and any strong price movement above 33.80 would signal higher prices.Resistance at 33.50-33.25.Overall we must stay below 34.50
Happy Trading..


Tuesday, December 11, 2012

Daily Silver Technical Update(DECEMBER 11,2012)

Silver Daily Technical Analysis and Outlook:

Prices must continue lower testing the 32-31.50 zone.And any move above 34.50 would suggest a bullish outlook targeting 35.50 and higher. But for now until the aforementioned level is breached prices must work down lower.Resistance at 33.85-33.55.
Happy Trading..