20th Sep - Silver Recovery Reaches Dual Fibonacci Resistance
20 September 2012
WEEKLY CHART - CONTINUATION
Note how earlier downmoves have found a floor above the long term 61.8% retracement level.
Recovery has now reached the 38.2% mark just above 35.00.
DAILY CHART – Dec-12:
After the break through falling resistance the upmove has now reached this year’s 76.4% retracement just below 35.00, which combines with the 38.2% level on the Weekly chart to offer a key hurdle to overcome. S/term we await reaction around here – temporary resistance looks likely.
Should resistance fail here then the 37.65 Feb high beckons next.
Next story:
20th Sep - Recovery in EUR/GBP Underway 
Previous story:
13th Sep - USD/CHF Pullback Nears Key Supports