Friday, February 10, 2012

SILVER Intraday Technical analysis

The silver approach to the lower limit of its medium term bullish channel in 33.30 suggesting a rebound. However a break of these levels would free a large potential and entail a bearish channel.
RSI provide buyers signals suggesting a rebound in the short term. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
According to previous events, the market indicates a bullish opportunity on the levels of 33.30 with a 1st objective of 33.70, then 33.90. A break in 33.10 would invalidate this scenario.

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