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Silver Bullion Technical Analysis |
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Silver Bullion Technical Analysis
For the latest technical analysis see Silver Bullion Spread Betting Analysis.
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05 April 2012 update -
The silver spread betting market closed lower on Wednesday and the low-range close set the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI are still bullish signalling that sideways-to-higher prices are possible near-term. Multiple closes above the reaction high crossing are needed to confirm that a low has been posted. If it renews the decline off February's high, the 62% retracement level of the December-February rally crossing is the next downside target.
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03 April 2012 update -
The silver spread betting market closed higher on Monday and the high-range close set the stage for a steady-to-higher opening on Tuesday. Stochastics and the RSI are turning bullish signalling that sideways-to-higher prices are possible near-term. Closes above the reaction high crossing are needed to confirm that a low has been posted. If it renews the decline off February's high, the 62% retracement level of the December-February rally crossing is the next downside target.
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02 April 2012 update -
The silver spread betting market closed higher due to short covering on Friday. The low-range close set the stage for a steady-to-lower opening on Monday. Stochastics and the RSI are neutral signalling that sideways trading is possible near-term. Closes above the reaction high crossing are needed to confirm that a low has been posted. If it renews the decline off February's high, the 62% retracement level of the December-February rally crossing is the next downside target.
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30 March 2012 update -
The silver spread betting market closed higher due to short covering on Thursday. The high-range close set the stage for a steady-to-higher opening on Friday. Stochastics and the RSI are neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. Closes above the 20 day moving average crossing are needed to confirm that a low has been posted. If it renews the decline off February's high, the 62% retracement level of the December-February rally crossing is the next downside target.
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29 March 2012 update -
The silver spread betting market closed lower on Wednesday and the low-range close set the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI are bullish signalling that sideways-to-higher prices are possible near-term. Closes above the 20 day moving average crossing are needed to confirm that a low has been posted. If it renews this month's decline, the 62% retracement level of the December-February rally crossing is the next downside target.
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28 March 2012 update -
The silver spread betting market closed lower on Tuesday and the low-range close set the stage for a steady-to-lower opening on Wednesday. Stochastics and the RSI are turning neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. Closes above the 20 day moving average crossing would confirm that a low has been posted. If it renews this month's decline, the 62% retracement level of the December-February rally crossing is the next downside target.
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27 March 2012 update -
The silver spread betting market closed higher due to short covering on Monday and the high-range close set the stage for a steady-to-higher opening on Tuesday. Stochastics and the RSI are turning neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. Closes above the 20 day moving average crossing would confirm that a low has been posted. If it renews this month's decline, the 62% retracement level of the December-February rally crossing is the next downside target.
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26 March 2012 update -
The silver spread betting market closed higher due to short covering on Friday as it consolidated some of the decline off February's high. The high-range close set the stage for a steady-to-higher opening on Monday. Stochastics and the RSI remain neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. If it extends this month's decline, the 62% retracement level of the December-February rally crossing is the next downside target.
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With financial spread betting you can lose more than your original stake or investment. Spread betting carries a high level of risk to your capital. Please familiarise yourself with the risks that are involved and before trading, ensure that financial spread betting matches your investment objectives. Seek independent advice where necessary.
Silver Bullion Technical Analysis - edited by PipTrade, 06 April 2012.
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With spread betting you can lose more than your original stake or investment. Spread betting carries a high level of risk to your capital so please familiarise yourself with the risks that are involved and, before trading, ensure that spread betting matches your investment objectives. Seek independent advice where necessary.
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* Based on current UK tax law. Tax law may change and can differ depending on your personal circumstances.
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