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.

Silver on the Edge!

26 sec read

Silver (11.09.2013) traded lower after placing fresh high around $25 & now a corrective wave is under progress.

Now silver is trading around $23 mark & we can see on charts, silver is moving under a descending wave after kissing the long term descending trendline.This downside move can is also limited by an triangle pattern which is an non-ideal pattern with higher rate of failure. The edge of the triangle also in combination of 38.2% feb correction level, a break below which may generate fresh selling. Continue structure of lower higher-lowers lows indicate the same.

silver

 
Based on above studies, we will prefer to sell silver with a clear break below $22.87 for possible targets around $22 & then $21.41. Only a break above $23.58 will reject the forecast.

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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