Monday, March 05, 2007

Gold, Silver Update

Dear Readers,

One can notice the extreme bullish sentiment quickly vanishing. From a technical perspective the downtrend is decelerating but that can quickly change. Gold finds some temporary support at key Fibonacci levels. Silver behave the same as gold with a little more upside / downside kick. The weekly indicators are ok, daily still bearish and the intraday are mixed (some positive, some negative). I'm attaching a one year daily spot silver (XAGUSD) chart annotated with Fibonacci levels; see previous posts for identical gold chart if needed. Enlarge chart for better view.

daily spot silver (XAGUSD) chart

No comments:



Gold Global Perspective Feed

AddThis Social Bookmark Button AddThis Feed Button