The Premier Silver Resource Website
Visit GoldSeek.com
Visit GoldReview.com
Visit UraniumSeek.com

- CLICK HERE TO VISIT THE NEW SILVERSEEK.COM -
Live Spot Silver
Navigation
Silver Market Articles
Silver Discussions at the Forum
Silver Company Links
Silver Market Updates
Silver & Gold Headlines
Silver Stock News
Silver Equity Quotes
Silver & Precious Metals Quotes







 
Silver Market Update



By: Clive Maund


-- Posted 18 June, 2006 | | Source: SilverSeek.com

There is little need to write much for silver, as most of the arguments pertaining to gold, and described in the Gold Market update, apply in equal measure to silver.

Silver broke down from a Head-and-Shoulders top area and its decline culminated in a capitulative panic, identical to that in gold, that has brought it down to a parallel zone of strong support in the vicinity of its 200-day moving average, which is a classic “buy spot”. Like gold it is believed to need a period of basing around the current level, that may last for a month or two, before it is ready to go up again. Note that silver may dip a little further short-term, perhaps close to $9, which would be regarded as an excellent buying opportunity.

 

Traders should keep in mind that there is one scenario, as with gold, that could knock silver down further, and that is the situation where interest rates get out of control and rise sharply, probably leading to a strong rise in the dollar. For this reason it is considered wise to place stops, say below $9. You could get whipsawed out doing this, of course, but there is always the option to get back in again if the picture subsequently improves, and you won’t have missed too much.


-- Posted 18 June, 2006 | |


Web-Site: www.clivemaund.com
Contact Clive Maund - clive.maund@t-online.de

Last Three Articles by Clive Maund


Silver Market Update
5 December, 2011

Silver Market Update
20 November, 2011

Silver Market Update
7 November, 2011

Clive Maund - Archive List

SilverSeek.com is presented to you by:

© 2003 - 2011
SilverSeek.com, Silver Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of SilverSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on SilverSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Disclaimer

The views contained here may not represent the views of SilverSeek.com, its affiliates or advertisers. SilverSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of SilverSeek.com, is strictly prohibited. In no event shall SilverSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.