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Thursday, March 31, 2011

FOR NEW HIGHS AS SAID $38.2 BREAK NEED

UNEMPLOYMENT CHANGE ROSE IN US LAST 388k..
SILVER LOOKING BEARISH NOW BT I THINK>.  TO LONG ON ONLY ABOVE 56800..ONLY TILL THEN SHORT SILVER AT 56400-500 STOP 56900.. 
SO WAIT N WATCH CME TRADERS DO.. N THEN JOIN THEM WITH BANG..

---------- Forwarded message ----------
From: Umesh Shukla <7788umesh@gmail.com>
Date: Thu, Mar 31, 2011 at 5:29 PM
Subject: <<SBs>> Silver Is Looking TO MAKE NEW HIGHS BT ONLY AFTER FEW DATAS COMMING IF BREAK 56600- THEN 58k..
To:



I MIGHT BE WRONG AS I DONT THINK THAT SILVER WILL MAKE NEW Highs..

BT RISING GRAINs PRices N EURO-Doller SUSTAINED ON SUCH LEVELS MAKING SENSE OF BREAKOUT IF SILVER BREAKs $38.2 Then SUrely IT GONNA SEE 5% MORE..58k-59k..

Comex Silver (SI)

Silver continues to stay in tight range below 38.18 and intraday bias remains neural. More consolidation could still be seen. Though, even in case of another fall, downside is expected to be contained well above 33.565 cluster support (38.2% retracement of 26.3 to 38.18 at 33.642) and bring up trend resumption. Break of 38.18 will target 100% projection of 17.735 to 31.275 from 26.3 at 39.84, which is close to 40 psychological level.
In the bigger picture, long term up trend in silver is still in progress and is regaining momentum with weekly MACD back above signal line. Current rally will likely extend further towards 261.8% projection of 8.4 to 19.5 from 14.65 at 43.71. In any case, break of 31.275 resistance turned support is needed to be the first signal of reversal. Otherwise, medium term outlook will remain bullish.
Comex Silver Continuous Contract 4 Hours Chart
Comex Silver Continuous Contract 4 Hours Chart
Comex Silver Continuous Contract Daily Chart
Comex Silver Continuous Contract Daily Chart

--
Warm Regards,
Omesh Shukla>>>
EARN YOUR PRIDE>>>
--
Regards,
Prasanth KS
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