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TECHNICAL ANALYSIS(Morning) Silver
2012-03-28 13:31:15

Silver




Morning Report

silver28

Silver declined yesterday, yet the metal is still stable in areas above the levels of 31.75 and 31.25 mentioned in our weekly report. Furthermore, the metal is still stable above the main resistance of the downside movement. We might recognize another bullish technical structure, but this pattern depends on a breach of 32.85 and 33.00. In general,our morning expectations remain valid as long as the metal is stable above 31.75 today and above 31.25 during the coming period.

The trading range for today is among the key support at 31.25 and key resistance now at 34.40.

The short-term trend is to the downside with steady weekly closing below 38.00 targeting 20.05.

***New York Candlesticks***

Previous Report

Weekly Report



Support 32.45 32.10 32.00 31.75 31.25

Resistance 32.85 33.00 33.15 33.40 33.65

Recommendation Based on the charts and explanations above, our opinion is buying silver above 32.45, and take profit in stages at 32.85, 33.65 and 34.40 and stop loss with 4-hour closing below 31.25 might be appropriate

 





TIME
Sydney Tokyo Ha Noi HongKong LonDon NewYork
Prices By NTGOLD
We Sell We Buy
37.5g ABC Luong Bar
5,339.004,919.00
1oz ABC Bullion Cast Bar
4,436.404,036.40
100g ABC Bullion Bar
14,180.2012,930.20
1kg ABC Bullion Silver
1,701.901,351.90
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