Tuesday, 21 October 2008

Gold and Silver in Down Trend

Gold looks bearish in daily chart. Price is below 200 SMA and 50 SMA. Currently trading at $778, below $800. Nearest resiatnce level is at $800 and Support level at $735.

Silver looks very bearish in daily chart. Silver is trading in a perfect down channel. Currently price is at 9.08. Nearest resistance is seen at 10.07 and support at 9.11.If support breaks at 9.10 then silver has more down side to come in next few weeks time.


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