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Silver Market Update

By: Clive Maund

-- Posted 7 May, 2005 | | Source:

The outlook for silver remains much as described in the last update. It remains down on the support of its long-term uptrend line, which also happens to be the lower line of a large symmetrical triangle. A breakout from this large triangular trading range is now drawing closer. Like gold, its fate at this juncture depends largely on the course of the dollar - specifically whether the dollar can succeed in breaking out of its long-term downtrend, or whether it will be overcome by the heavy resistance at and above the current level, and succumb to renewed decline. Should silver break down below its long-term uptrend line it is expected to be synchronous with a gold breakdown/dollar breakout to the upside. The dollar/gold interaction and outlook, which has a pivotal bearing on the outlook for silver at this juncture, is discussed in detail in the Gold Market update, to which readers are referred for details.


-- Posted 7 May, 2005 | |

Contact Clive Maund -

Last Three Articles by Clive Maund

Silver Market Update
5 December, 2011

Silver Market Update
20 November, 2011

Silver Market Update
7 November, 2011

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