October 30, 2012

SILVER Support and Resistance levels

 
  • SILVER Weekly chart shows the current range of Silver between 23.6% and 38.2% Fibonacci level.
  • Right now price is testing 23.6% Fib level. If this level is held an up move can be seen.
  • 4 Hour charts show resistance at 50 period SMA and Ichimoku cloud. These levels has to break on the upside for a possible move towards 38.2% Fib level which is the range top. Breaking below 31.45 will extend the correction.
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