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gold and silver
By: Crown Forex - 14-07-2008
0votessilver
Building a solid base above the 50% correctional level at 18.66 will provide the metal with the momentum to extend the upside movements to 19.30 represented by the 61.8% correctional level which was initiated on March 17, 2008 and ended on May 1, 2008. The bullish trend will not fail unless silver falls below 18.30 yet we expect prices to reach $20 per ounce as it technical indicators show.
The trading range is seen among 18.30 support levels and 19.30 resistance levels.
The general trend is to the upside as far as 14.50 remains intact with target at 20.90
Support 18.66 18.60 18.52 18.50 18.30 Resistance 19.05 19.25 19.30 19.61 19.73 Recommendation ... gold
Breaching the levels mentioned in the previous report that determine the trend helped support gold prices to soar above $967. Today we believe that the metal will breach these levels despite being in an over bought area yet the possibility to see correctional movements is valid but as long as 955.45 remains intact, gold will gather momentum to reach the 972.10 level and perhaps record all time highs if it successfully builds a solid base above 989.85.
The trading range is seen among 946.10 support levels and 989.85 resistance levels.
The general trend is to the upside as far as 730.00 remains intact with targets at 983.00 and 1016.00
Support 963.80 957.90 955.45 954.45 946.10 Resistance 967.90 972.10 978.75 983.00 989.85 Recommendation ...
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Crown Forex
CROWN FOREX SA, located at St-Hubert 38, 2854 Bassecourt, P.o.box 247, Switzerland, is fully regulated as a financial intermediary under Swiss federal law on the prevention of money laundering (LBA, MLA). Our company is also affiliated with the ARIF association, thus overseen by the Swiss federal de
DISCLAIMER:
The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver &energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk
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