Live Rates Powered By:
AUDUSD
NZDUSD
EURUSD
GBPUSD
USDJPY
USDCAD
Loading

Silver
2012-03-12 13:29:50

 

Weekly Report
silver12
 

 

Silver is still stable below 34.00 and 34.40, which drives us to expect that the metal is still forming the CD leg of the Butterfly harmonic pattern, especially when Stochastic reversed to the downside after reaching the 80-point level and providing a negative crossover. RSI also wasn’t able to settle above the 50-point level. In result, we expect silver to decline again this week, awaiting negativity to become significant once the metal decline below 33.00. Consolidation above 34.65 should weaken our expectations.
The trading range for this is among the key support at 31.25 and key resistance now at 36.80.
The short-term trend is to the downside with steady weekly closing below 38.00 targeting 20.05.
***New York Candlesticks***
Previous Report

 

 

Support
33.75
33.20
33.00
32.80
32.45
Resistance
34.00
34.40
34.65
35.05
35.75
Recommendation
Based on the charts and explanations above, our opinion is selling silver below 34.00, and take profit in stages at 33.20, 32.80 and 31.25 and stop loss with 4-hour closing above 34.65 might be appropriate

 



Related news


TIME
Sydney Tokyo Ha Noi HongKong LonDon NewYork
Gold Price at ABCBULLION Foreign exchange rates at CommonWealth Bank Foreign exchange rates at ANZ Bank
Prices By NTGOLD
We Sell We Buy
37.5g ABC Luong Bar
5,333.504,913.50
1oz ABC Bullion Cast Bar
4,426.804,026.80
100g ABC Bullion Bar
14,205.6012,905.60
1kg ABC Bullion Silver
1,728.401,378.40
»  Wall Street all in on further gains for gold, Main Street grows more bullish for next week’s price action   (2024-10-19 10:12:59)
»  Gold shines as ultimate safe-haven asset, set to hit $3,000/oz by 2025 – Bank of America   (2024-10-19 10:07:32)
»  Gold and silver to rally through the end of 2024, copper likely to lag – Prosper’s Scott Bauer   (2024-08-15 06:23:01)
»  Wall Street experts see gold gaining on renewed recession fears, Main Street bullishness not far behind   (2024-08-04 16:15:53)
»  Phố Wall chứng kiến ​​đà tăng giá vàng mới vào tuần tới, tâm lý lạc quan của Phố Main tăng lên   (2024-07-27 17:29:24)
»  Wall Street sees renewed momentum for gold prices next week, Main Street’s bullish sentiment increases   (2024-07-27 17:26:59)
»  Wall Street is balanced and cautious on gold next week, Main Street remains optimistic about price gains   (2024-07-20 08:49:41)
»  September rate cut and Trump policies are boosting gold demand – FX Empire’s Ali   (2024-07-19 05:12:10)
»  Gold price will average $2,500 per ounce in Q4 2024 as bull case remains intact despite sharp gains – JPMorgan   (2024-07-18 11:18:51)
»  Wall Street sees green lights for gold next week; Main Street jumps back on the bullish bandwagon   (2024-07-06 04:25:55)
»  Gold and silver price pullback following Friday’s NFP would be buying opportunities – FX Empire’s Lewis   (2024-07-05 02:45:04)
»  Wall Street will sit on the sidelines next week, Main Street divided on gold’s price prospects   (2024-06-29 14:26:23)
»  Routine profit-taking pressure in gold, silver Tuesday   (2024-05-22 07:27:48)
»  Wall Street sees gold prices challenging $2,500 next week, Main Street sentiment is more restrained   (2024-05-20 19:46:56)
»  Gold, silver rally as Fed’s Powell leans a bit dovish   (2024-03-07 05:26:21)
The process of producing gold 1) Metallurgy. 2) Metal working and check. 3) Producing.
Slideshow
 
© 2011 Copyright By Ngoc Thanh NTGold. All Rights Reserved.
Powered by: Ngoc Thanh NTGold
 
  • Online: 644
  • Today: 9879
  • Total: 4651153