Wednesday, 22 February 2012

MAR SILVER

Resist: 34.40-34.50, 34.95, 35.35
Supprt: 33.89, 33.38, 32.69*
Comment: Yesterday’s thrust higher signals a bull upturn from recent sideways flagging congestion and calls for rallies to attack for a breakout over the recent 34.50 high which in turn should launch a stronger bull wave to 35035+. If trade struggles to extend over 34.50+, then we may see modest corrective dips and further sideways trade just under 34.02, but only a close under 22.22 signals for a bear turnover to drive for a test of 32.69* and a larger downturn.

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