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 19 April, 2009 | | Discuss This Article - Comments: Source: SilverSeek.com

Silver has shown technical deterioration over the past week which is increasing the risk of it aborting the bullish Cup & Handle pattern that we had described in the last update. Specifically it closed below the important support at the mid-March hammer low as a result of Friday`s sharp drop. As we can see on the 1-year chart, it has not yet broken below the important support level shown, so it could still recover from here. However, downside risk is now increasing, especially as gold is also testing crucial support and the dollar is looking set to stage another rally. The falling 200-day moving average is another bearish influence. Failure of the support shown would be expected to lead to a plunge, probably back to the $10 area. Traders may therefore wish to set stops accordingly. Holders of large silver stocks have the option of either closing out or reducing positions, or protecting them with options. The long-term outlook remains positive, particularly as the dollar looks set to roll over after a final rally, as described in the Gold Market update.


-- Posted 19 April, 2009 | | Discuss This Article - Comments:


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.