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Gold and Silver
By: Crown Forex - 24-07-2008
0votesNext Analysis: Precious Metalssilver
The metal failed to remain above the 61.8% correctional level but despite that we see the chance for a corrections to the upside. Prices in general have been trading sideways over the medium term between 18.80 and 16.20.
The trading range is seen among 16.80 support levels and 18.44 resistance levels.
The general trend is to the upside as far as 14.50 remains intact with target at 20.90Support 17.20 17.05 17.00 16.80 16.55 Resistance 17.50 17.86 18.24 18.30 18.44 Recommendation ...
gold
Yesterday we expected that the 38.2% correctional level will be weak and today the metal is consolidating around the 50% correction. Gold needs to incline where the ADX indicator gave a signal that the direction will be altered at the moment. From here we expect gold to retest the 38.2% correctional level at 938.20 at least as long as trading remains above 912 level.
The trading range is seen among 897.95 support levels and 945.00 resistance levels.
The general trend is to the upside as far as 730.00 remains intact with targets at 983.00 and 1016.00Support 916.80 911.75 908.90 907.45 897.95 Resistance 929.15 937.80 938.20 945.00 955.10 Recommendation .. Content Provided by:
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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