Wednesday, October 26, 2011

Silver Market Update


by Clive Maund via SilverSeek.com:

Over the past week silver has behaved as predicted in the last update, breaking down from its potential Pennant pattern and dropping gently back towards support in the $29 – $30 area, to enter our “accumulation zone” shown on its 4-month chart which turned it higher on Friday, and while the pattern could still be a bear Pennant with an amended lower boundary this is looking considerably less likely – it looks like the Pennant has aborted. It is thus thought that we are late in the base building process.

Read More @ SilverSeek.com

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