If silver stays below 51000 for the next few days, it will try to find support near 48500. The zone from 51000 to 48500 is very important, where silver might dwell for a couple of weeks & move upwards but if it breaks the very crucial level of 48500 it will head for new lows.
Silver has made a top of 65670 six months ago. It has entered into a downward trend during the last week of November & has been falling since then, recently it has broken a very important support of 51000. The question arises now, what is next the move of silver?
If silver stays below 51000 for the next few days, it will try to find support near 48500. The zone from 51000 to 48500 is very important, where silver might dwell for a couple of weeks & move upwards but if it breaks the very crucial level of 48500 it will head for new lows.
6 Comments
sujal
4/4/2013 04:59:18 pm
nice one.. but do you feel it will break downside..?
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sujal
4/4/2013 05:00:13 pm
nice one.. but do you feel price will fall further..?
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5/4/2013 02:57:04 am
If silver breaks 48500, it will move further down, else it may stabilize.
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Saurab
13/4/2013 04:20:29 am
No doubt, silver can take support of 48500 but still hope silver can break its recent low and continue his downtrend till 46500......let where the market move...
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Dave
15/4/2013 10:29:15 am
I noticed this downward channel on silver as well as gold and their respective miners a few months ago as well. I'm curious about the moving averages seen here and the red and green signal arrows - what triggers their appearance? Otherwise, good work and thanks in advance.
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15/4/2013 03:56:39 pm
Hi Dave,
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