www.goldtrends.net On this mornings chart --we're using the silver ETF (SLV) to show this weeks pullback was just a test of the trend line we call the pre shortage panic line and price supported very well so far at that area. The other key support on the chart is the moving averages near the 38 area. (NOTE: SLV is currently trading near one dollar lower than spot silver so keep that in mind when you look at the chart) Resistance is the 41.45-42.00 area for the remainder of the day. As long as silver is above the 39 dollar area ----- the upside still has the advantage.
Silver Thursday Update
www.goldtrends.net On this mornings chart --we're using the silver ETF (SLV) to show this weeks pullback was just a test of the trend line we call the pre shortage panic line and price supported very well so far at that area. The other key support on the chart is the moving averages near the 38 area. (NOTE: SLV is currently trading near one dollar lower than spot silver so keep that in mind when you look at the chart) Resistance is the 41.45-42.00 area for the remainder of the day. As long as silver is above the 39 dollar area ----- the upside still has the advantage.
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