comex silver outlook

Comex Silver: Short term trend is negative
12 June 2008 05:52:15

The close below the 40-day moving average is an indication the longer-term trend has turned down. The daily stochastics have crossed over down which is a bearish indication.

Momentum studies are declining but have fallen to oversold levels.

The market's short-term trend is negative as the close remains below the 9-day moving average. The next downside target is now at 1605.8 The next area of resistance is around 1697.50 and 1741.8 while 1st support hits today at 1629.50 and below there at 1605.8 "

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