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Precious Metals
By: Crown Forex - 22-09-2008
0votesgold
A weak downside trend is dominating trading for today as the metal is consolidating between the 860.90 support level from the 50% correction for the downside channel that started on July 15, 2008 alongside the resistance level at 890.60 at 61.8%. Some signs have emerged on the Stochastic indicator on the daily charts but on the hourly charts, it is pointing to the upside therefore we expect sideways movements but failing to trade above 890.60 will result in vigorous downside movements throughout the week.
The trading range is among the key support at 807.50 and the key resistance at 918.70.
The general trend is to the upside as far as 730.00 remains intact with targets at 983.00 and 1016.00Support 860.90 854.65 836.80 831.25 807.50 Resistance 890.60 898.40 904.85 908.60 918.70 Recommendation ...
silver
The upside trend is still targeting the $13 per ounce level heading towards the 13.23 resistance where this resistance is the end for the last downside channel. We see the metal being overbought yet the upside direction is still supported by the 20 day moving average on the four hour charts at 11.79.
The trading range is among the key support at 11.20 and the key resistance at 13.85.
The general trend is to the downside as far as 18.30 remains intact with targets at 12.50 and 10.50Support 12.30 12.15 11.94 11.79 11.34 Resistance 12.70 12.89 13.00 13.17 13.23 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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