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Forex Analysis: 4 Apr 2012, 09:47 UTC+00

SILVER Intraday Technical Analysis

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Silver is currently testing the intermediate support of its medium term bullish channel at 32.20 suggesting a rebound. However, a break of these levels will entail a return to the lower limit of this one to 31.20.
Technical indicators provide buy-signals supporting the assumption of a rebound in the short term. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
According to previous events, the market indicates a bullish opportunity at 32.20 with the 1st objective of 32.80, then 33.00. A break through 32.00 will change the plan.


Performed by
analytical expert: Albert Fitoussi
InstaForex Group © 2007-2017
 Published: 4 Apr 2012, 09:47 UTC+00

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