Friday, June 5, 2009

Silver Trade Update for 270509

Silver is seen to have reached a good bullish condition; an active scenario that may create a new bullish zone for the price of silver. The current price is testing the previous high of <>14.63ish. Also at this point the price can possibly make a pullback down to the <>11.78ish level to challenge the main support and consequently present a decent entry prospect. On the fundamental side of it, the current fear of inflation in the US will have people buying more commodities like gold and silver, creating a demand that pushes the price higher as supply sources are exerted. Overall; on day to day terms, the current consensus for Silver is a bullish bias. This commodity deserves more attention this week.

Disclaimer: Trading in the FOREX market & other forms of investments involves risk. This information should not AT ALL be viewed as investment recommendations. The charts & information provided here are not meant for investment purposes & only serve as technical examples.

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