EUR/JPY - Elliott Wave Analysis for July 31 - 2012
Gold Targetting 1650-1700 In Sessions To Come
News: 2012-07-31 07:44:32 UTC+00 9 months, 3 weeks, 3 days, 8 hours, 17 min. ago
Silver Clears 28.20. Just Shy of Registering Fresh Swing Highs...


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Technical Outlook and Chart Setups:
Silver has now cleared 28.20 level and it is just a matter of time before the metal registers a swing high near 30.00 level. It has come a long way since we discussed 26.50 to be a strong support. We expect it to continue rallying towards the measured extensions as depicted above. Long positions taken last week should be held for now. Fresh buying should be made on intraday dips since those will be new buying opportunities presented. Intermediary resistance is at 28.90 levels.
Trading Recommendations.
Hold long positions for now and build them on dips, target 30.00.

Good Luck!

Performed by
Analytical expert: Harsh Japee
InstaForex Group © 2007-2013
 Published: 2012-07-31 07:44:32 UTC+00 9 months, 3 weeks, 3 days, 8 hours, 17 min. ago

 
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