silver trading

Silver Chart 24 June 2010

Spot silver prices ended yesterday’s silver trading session marginally lower trading in a relatively narrow range and ending the session marginally below the 9 day moving average. The short term trend lower of the last few days appears to lack any great conviction and is more likely to have been prompted by profit taking rather than any longer term change in sentiment.  From a technical perspective the bullish outlook remains firmly in place and provided the 14 day moving average supports the recent probe lower then this should provide a platform for a subsequent rebound higher and re-test the recent highs at $19.50 per ounce and above in due course.

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