Commodities
Wednesday, January 05, 2011
SILVER (USD)
SILVER: (Short term target achieved):
It has achieved Short term target @$31.27 (High of 03/01/2011), as per chart attached.
It looks like wave-III over in silver, close below 28.81 will further confirm about wave-III completion. It has also broken out of channel as per chart attached.
Correction looks due in silver for short term.
Trader should book Profit in Silver for short term & use every rise to exit till UP TREND Confirms.
$31.27 is crucial resistance to watch out for for further higher targets in short term. Fall below $28.81 will lead to further lower levels around $26.4 to $25 can possible in short term.
It looks like wave-III over in silver, close below 28.81 will further confirm about wave-III completion. It has also broken out of channel as per chart attached.
Correction looks due in silver for short term.
Trader should book Profit in Silver for short term & use every rise to exit till UP TREND Confirms.
$31.27 is crucial resistance to watch out for for further higher targets in short term. Fall below $28.81 will lead to further lower levels around $26.4 to $25 can possible in short term.