Friday, 6 May 2011

Silver $35 sharp sell off is reaching OVER SOLD

Silver has given back all the gains for March and April and pulled back 33% from the High of $50. Look for short term support at $34 with a bounce up to the 50ema ($39) expected next week. Failure to close above 50ema for more than a couple of days will be the signal for the next leg down to around $22 by the end of May

BUY $34 STOP $33 TARGET $39
SELL $39 STOP $42 TARGET $24


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