Mantraa Commodity Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc. Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on mantracommodity@yahoo.com HaPpY TrAdInG.

Follow up : Silver on edge !!!

26 sec read

Silver (13.09.2013) traded lower & reach to the mention target area.

silver

 
Now silver is trading around $21.65 & as we can see on charts, this area represent a combination of many supports. The lower tradeline of current descending channel with 61.8% feb correction level as well as a parallel support is also there. Thus this area may act as a level of some profit booking or may be a reversal point. Looking at the candle stick pattern , we are unable to identify any positive move which actually stop us from entering into fresh trade. A break below may initiate panic selling. SO where is silver going now ?????

Based on above studies, we will prefer to stay neutral & look for an better entry level & direction.

Mantraa Commodity Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc. Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on mantracommodity@yahoo.com HaPpY TrAdInG.

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