Expected trading range for today is between: Support 30.50 Resistance 32.50
General tendency is expected for today: neutral
Thread: Silver
Expected trading range for today is between: Support 30.50 Resistance 32.50
General tendency is expected for today: neutral
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as per the weekly chart time frame is signal for shorting but with metal long order is more profitable. if we draw the trend line we can see near 30 price is have a resistance so we will see that it will touch this but if silver cross 32.50 then again it will move in up direction and again try to touch 34.70 level.
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Elliott: correction zigzag 31.43
It should try higher up to 31.21 - 31.39. Entry point 31.03 or 30.92. After this rise, a correction is expected.
Warning: End of trend
Technical points
Key point 31.4100
Entry point 31.0400
Elliott 30.6600
Closing 31.1800
Projection 31.4300
Trendline 31.3600
Trendline 30.1200
Supports / Resistances
Res 2 31.6000
Ex-High 31.2400
Res 1 31.3900
Pivot 31.0300
Sup 1 30.8200
Ex-Low 30.6600
Sup 2 30.4500
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Bearish pressure on the price of silver to the price level at 30.85, after a bullish up until the 31.19 price level, if the price of silver prices could continue to fall towards 30.30 support level.
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The trading range for this week is expected among the key support at 29.50 and key resistance at 33.00.
The short-term trend is to the upside with steady weekly closing above 26.00 targeting 50.00.
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On silver, I expect the beginning of the northern correctional growth, the price has fallen so very much, all day today was consolidating around 30.50, I think the price will come back to the area of break of 31.60, there is my main goal.
Silver technical analysis for 05.11.2012 by using : Auto pivot indicator.
resistance 3:33.44
resistance 2:32.89
resistance 1:31.90
pivot point :31.35
support 1:30.36
support 2:29.81
support 3:28.82
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After move up until 31.18, silver retrace down and until now still continue this condition. Silver can not able to continue up movement because it still get high pressure that started from friday ago. Now, price shown try up but it may retrace down again.
Expected trading range for this week between: Support 29.65 Resistance 33.00
General tendency is expected for this week: neutral
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Spoiler:
Pada chart Daily,harga berada dibawah 12 EMA(merah) dan 72 EMA(biru) menandakan trend masih turun
21 RSI berada dibawah 50 menandakan trend masih turun
Rekomendasi :SELL
Target :28.08
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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