Monday, September 26, 2011

Silver ~ Update ~ 26 September 2011

I hope you remembered that I wrote that the support at 38-39 $ was very important...

The support broke less than two trading days ago and today silver hit 26 $, that's right, TWENTY-SIX - i. e. silver has lost one third of its value within less than 48 hours!

During the crash in 2008 silver lost about 60 %. If this happened again today the target would be around 20 $:

Next support level is around 26 $. If it breaks we should see another sell-off into the low 20's. Resistance is at 33ish.