25.02.2013 - Will silver drop to $26?
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
Print