Silver got hammered last week and it’s down again in overseas trading this evening. As of 7:35 pm Pacific, Silver is off another $1.44 an ounce to $29.49 and has hit the 38.2% Fibonacci level. There are some encouraging signs in this market as John points out in the chart below.
So does the chart show support at 29.66? and if that is broken which it is in the world market tonight where is the next support level?
thx greg
Comment by GREG H — September 25, 2011 @ 8:59 pm
Greg H
There is a support band between 26.30 and 31.27 which is Wave #2 of the Motive Phase.
Comment by John - BMR — September 26, 2011 @ 12:19 am
zerohedge.com/news/shanghai-gold-exchange-hikes-silver-margin-20
Comment by Hugh — September 26, 2011 @ 12:42 am
Sixth Sense (Sep 26) forecast:
GBB… may hit low 26 cents! Close to my buying point…
BER… low at 15 cents high … unknown… depends on the real buyer for big lot at 17 cents….
Comment by Theodore — September 26, 2011 @ 4:32 am
Here is an aquisition, as of this morning: Detour Gold to buy Trade Winds for C$84 mln.
Comment by Alexandre — September 26, 2011 @ 5:16 am
Thanks Jon
I must be blind, I keep looking at that chart and I do not see that support band at those numbers?
thx
Comment by GREG H — September 26, 2011 @ 5:47 am