Commodity Prices

Gold •750 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,594.70	-14.10	-0.88%
WTI Crude •11 mins	89.59	-2.60	-2.82%
Gasoline •11 mins	3.392	-0.104	-2.97%
Ethanol •750 days	2.161	+0.000	+0.00%
Silver •750 days	30.82	+1.16	+3.92%

Silver • 750 days	30.82	+1.16	+3.92%
Copper • 750 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	97.14	-3.55	-3.53%
Natural Gas • 11 mins	2.938	+0.022	+0.75%
Heating Oil • 12 mins	4.224	-0.117	-2.70%

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Silver: Resistance at 28.45 is Once Again Challenged

By - Aug 17, 2012, 7:12 AM CDT

Silver is once again testing its resistance at 28.45 (03/07/2012 high). A break of the hourly support at 27.53 is needed to invalidate the short-term succession of higher lows.

Given the current technical configuration, the upside potential is expected to be capped by the resistance at 29.90.

Silver, like Gold, is close to its key mediumterm support. A break of this support (i.e. 26.07) is needed for further significant weakness (i.e. toward the 20.00 region).

Daily Technical Report