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there's also a rejection on Silver. Silver had been rejected by the 35.16 resistance level yesterday. So, it may makes the bearish pressure to Silver and now Silver has a potential to fall. If that happens, Silver may touches 34.37 support level or lower than that support
Yrs that is the real truth the market will continue in a bullish from so let all get ready at this crucial point
The price of silver is under negative pressure hinders high intraday price range, where the return to trading around 34.50, while the price remains stable over the barricade pivotal 34.00
From here, the expectations of the general trend remains bullish list and likely supported by SMA 50, and main targets start at 35.50
Expected trading range for today is between: Support 34.00 Resistance 36.00
General tendency is expected for the day: UP
Now silver market rate 34.78 & very high rate & you should sell rate for profit if you want. Silver rate is more profitable business if analysis 1st then trade & profit about analysis that moment it would best for you.
35.05 is the next obstacle for silver to continue rising trend. prices since this morning have not shown impairment showed that taking profit buy is still going and the absence of saturation.
Silver price continues its attempts to penetrate the level of 35.00, which is a strong resistance barrier to intraday trading days ago.
In general, our expectations remain positive and effective, with reference to the stability above the mentioned level will facilitate the task of achieving greater height and targeted levels of 36.00 - 36.50 mainly.
Expected trading range for today is between: Support 34.00 Resistance 36.50
General tendency is expected for the day: UP
Silver and gold are the same they give one a nice fortune if traded well enough then well but at the same time this is a very dangerous commoditty to trade.
Retracement silver prices seem stuck in the daily pivot level 34.89. This level is a critical level for the pair is still in a strong trend. It could be the price will retrace or penetrate down through the daily pivot level.
Silver technical analysis for 08.10.2012 by using : Auto pivot indicator.
resistance 3:35.85
resistance 2:35.47
resistance 1:34.99
pivot point :34.61
support 1:34.13
support 2:33.75
support 3:33.27
Spoiler:
On the H1 chart, the price is below 12 EMA and 72 EMA indicates the trend is still down
50 RSI is below 50 indicates area trend is still down
Range :34.55-33 .78
Option: SHORT
Take profit: 33.78