The earlier 2011 fall back in Silver prices found interesting Fibonacci support on the daily and longer term charts and, now, the initial recovery looks well-placed to further satisfy shorter term bulls.
- WEEKLY CHART -CONTINUATION The sharp drop back earlier in 2011 has found support close to a 38.2% pullback level, prompting recovery. Look closer…
- DAILY CHART –Sep-11: Following on from initial 76.4% support in May a period of indecision has led to a breach of 38.2% resistance and erosion of the channel top. A better break through this channel would spur the shorter term bulls with 44.67/45.48 providing a target area.
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