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Weekly Silver Commentary [2 Sept 2013]

 
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WahyuPY
Senior Member


Joined: 18 Feb 2009
Posts: 475
Location: Singapore
PostPosted: Mon Sep 02, 2013 12:45 am    Post subject: Weekly Silver Commentary [2 Sept 2013] Reply with quote
Silver prices rallied last week and spiked above 25.000 regions on Wednesday. However, the trend was capped by strong resistance and market reversed afterwards. Silver prices slumped to 23.550 levels on Friday amid profit taking and stronger greenback.

This week, we foresee that the market will continue to be bearish and may re-test 23.000 regions. Currently, the market could be entering a complex consolidation mode while we reckon the range may trade from 22.500 and 25.000 regions this week.
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Cheers,

Wahyu PY



"Markets can remain irrational a lot longer than you and I can remain solvent." ~ John Maynard Keynes
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