09th May - Silver Vulnerable to Further Weakness
09 May 2013
MONTHLY CHART – CONTINUATION:
The rising support line has been decisively breached, next support from the 21.185 Mar-08 high.
Below here the 18.40 76.4% retracement level opens up.
DAILY CHART – Jul-13:
Following the acceleration downward last month a temporary recovery attempt is in process.
The 26.285 Jun-12 low and falling old support/return line just beneath offer potentially strong resistance – a break through this could act as a s/term spur to the bounce. Meanwhile, there remains further not-insignificant downside risk.
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