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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Will silver drop to $26?

Posted on 25 February 2013

The $28 to $28.50 price levels serve as a maximum extension for this correction using Gann Trend lines. It confirms a major level of support based on the downtrend line support extension starting from the November/December 2012 lows, and connecting the January 2013 low measures almost to the dime (a pre 1964 dime that is!).
The upper end of this trend channel is in the $31.50 area. A weekly close above $31.50 potentially could ignite massive short covering. If this upside breakout occurs, a sharp rally towards the $33.50 to $34 level could rapidly materialize………………………………………..Full Article: Source

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This post was written by:

VRS - who has written 37583 posts on Opalesque Commodities Briefing.


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