Silver: Break in the 200-day Eliminated Support

September 26, 2011

The 200-day moving average for silver broke at $36. Since this break the metal has continued selling off sharply without support. Technical analysis is especially useful for currency and commodity markets where the idea of intrinsic value is less clear. Silver was in a long standing bull market but is now simply a market looking for support.

The 200-day in gold is: 1,528.
This level should be watched carefully.

Share Button

Tags: , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *

Search CJ’s

Friends of CJ’s

Since Sep 2011

Contact CJ’s