Silver Recovery Set To Continue

04 August 2011

WEEKLY CHART -CONTINUATION

The sharp drop back earlier in 2011 has found support close to a 38.2% pullback level, prompting recovery. Look closer...

DAILY CHART -Sep-11:

Following on from initial 76.4% support in May a period of indecision has led to a breach of 38.2% resistance and erosion of the channel top.

A better break through this channel would spur the shorter term bulls with 44.67/45.48 providing a target area.