Wednesday, September 4, 2013

SILVER‏ (Spot) intraday: key ST resistance at 24.5

Pivot: 24.50

Our preference: SHORT positions below 24.5 with 23.35 & 23.05 in sight.

Alternative scenario: The upside penetration of 24.5 will call for a rebound towards 24.7 & 25.1.

Comment: the break below the rising trend line is a negative signal. In addition, the RSI is bearish and calls for further decline.
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