Tuesday, May 10, 2011

Silver ~ Update ~ 10 May 2011

There's not much going on in the markets, actually there's nothing going on right now..., so let's have a look at silver again:

As said last week the uptrend line may be good area for at least a short term rally in silver. Currently we're just below 39 $ thus already up about 6 $ from the lows. I think this rally could last a bit longer and reach the 42ish or even the 45ish area. Once above 45ish 50 $ should be next which I don't think will happen though. I think there'll be one more sell off in June or so before the next rally to 50 $+ starts.