Commodity Prices

Gold •505 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,520.80	+3.60	+0.24%
WTI Crude •11 mins	58.66	-0.34	-0.58%
Gasoline •26 mins	1.911	-0.008	-0.41%
Ethanol •505 days	2.161	+0.000	+0.00%
Silver •505 days	30.82	+1.16	+3.92%

Silver • 505 days	30.82	+1.16	+3.92%
Copper • 505 days	4.530	+0.111	+2.51%
Brent Crude • 41 mins	63.38	-0.13	-0.20%
Natural Gas • 14 mins	4.476	+0.002	+0.04%
Heating Oil • 30 mins	2.519	-0.014	-0.55%

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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