SILVER (Spot) intraday: the downside prevails.

Update on supports and resistances. ( 08/02/2013 13:42 )
SILVER (Spot) intraday: the downside prevails.

Pivot: 32.15

Our preference: SHORT positions below 32.15 with targets @ 31.05 & 30.75.

Alternative scenario: The upside penetration of 32.15 will call for 32.45 & 33.

Comment: silver prices have broken below their rising trend line. A consolidation is more likely.

Trend: ST Range; MT Bearish

Key levels Comment

33*** Intraday resistance

32.45** Horizontal resistance

32.15** Intraday pivot point

31.535 Last

31.05** Intraday support

30.75* Intraday support

30.15** Intraday support

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