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elliott flat correction down 30.59
support at 30.77 or 30.61 should hold then a correction to above 31.40 is anticipated aclear break of 30.44 is again bearish
technical points
key point 30.58 - entry point 30.91 - elliott 31.23 - clpsing 30.79 - projection 30.59 - trend line 30.900
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date- 15-2-2013
technical pivot point are-
resistance 3 - 31.72
resistance 2- 31.39
resistance 1- 30.89
pivot point- 30.56
support 1- 30.06
support 2- 29.73
support 3- 29.23
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SILVER (Spot) intraday: the downside prevails.
Pivot: 31.05
Our preference: SHORT positions below 31.05 with 30.15 & 29.7 as next targets.
Alternative scenario: The upside breakout of 31.05 will open the way to 31.25 & 31.65.
Comment: silver prices are capped by a declining trend line. In addition, a symmetrical triangle is confirmed, calling for an extension of the downward track.
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SILVER Trend: ST Ltd downside; MT Bearish
Key levels Comment
31.65** Intraday resistance
31.25** Intraday resistance
31.05** Intraday pivot point
30.345 Last
30.15** Intraday support
29.7** Intraday support
29.2** Intraday support
http://dl.dropbox.com/u/51561036/scr...215-162638.png
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sell silver at the level 30.32 with targets at 29.92 and 29.51, but in case of breaking the level 30.58, then buy above this level with targets at 31.00 and 31.21
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The downtrend still continue here and price is trying to touch support 30.05. At other side, if price can breakup pivot 30.55 then the trend could be change into bullish and trying to hit resistance 30.89.
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Its rose up day to day, but many chances for Silver when start getting strength, Gold also fall when start raising.
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right now I even have 2 open positions in silver and each sell orders. and silver is inexperienced at the instant. and that i might nongovernmental organization access my account without delay, however i expect the value are in my favour when gap of the london and europea n sessions. I even have no means that to manually shut the positions however the targets had already been set...thank you.
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silver has been break the support at 30.50 and not making a higher down side movement. if this is able to break the price at 30.00 then it will falling continue and move to in the rage of 29-28.00 but at the time cci and stoch indicator are oversold so up trend is possible.
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elliott extension wave down 30.05
market should not go lower than 30.33 - 30.08 after this move down it should go up to 30.73 - 30.90 area
technical points
key point 30.14 - entry point 30.64 - elliott 31.23 - closing 30.40 - projection 29.81 - trendline 31.07