www.goldtrends.netToday's zoom in on the silver chart shows that London was given the chance to be the buyers on Tuesday and the 7am EST peak about an hour before New York opened proved to be the high of the day. The COMEX boyz took silver down from start to finish. As soon as New York closed prices have drifted back to the 36.00-36.17 area we mentioned on our quick update earlier today. Resistance in Asian trade is the 36.17-36.35 area initially and then the highs from Monday at the 36.75 area. That's really the key spot to further price appreciation this week. First support is the 35.40-35.50 area when London fires up on Wednesday. With mid week Wednesday on tap for tomorrow --- the potential for a probe of either side so far this week --- 35.50-36.50 seems a reasonable target. IT would seem which ever way it breaks from there could lead the Thursday price zone. The market should have some underpinning support with the anticipation of the Saudi demonstration planned on Friday.
5 comments:
Thanks Bill
No probs ---and thanks for that article about silver coins. That was a good one.
You heading to your bank tomorrow? :)
LOL --- the thought certainly crossed my mind. Would love to send the wife instead....no offense ladies !!!!! Mind if i post that at the website with a link to your blog ?
Of course. You know you don't have to ask.
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