aslamhammad

Silver Kind of Oversold....

COMEX:SI1!   SILVER FUTURES
52 1 2
Well currently silver             is looking oversold....our first weekly support 1 is around 14.40

Next one to be tested is 14.09

At the moment in my view this price can do 2 things....Well the first thing is intraday price can consolidate alittle back towards 15$-16$

Alternative is that price could break due to Fed interest rate hike decision that's around on 17th September. Targets in that case would be 13$-12$....Major short would be below 14$.....However it depends on the Fed decision.....As China has been cutting their interest rates, and it also affects the Gold+silver prices....But the question is for how long :). Anything is possible. Hence it leads to option C==wait for Fed decision :p....Than we can try to catch this silver             train :)

eskgroup
a year ago
very good! thx for sharing..
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