FX.co ★ SILVER Bearish Outlook, March 10, 2011 (Daily Strategy)

SILVER

Its upward trend of the Silver has been stopped by the strong weekly resistance around 36.40 level. And from this level has taken a turn to north this commodity is about to touch his line trend, if it broke, would confirm our bearish outlook.

The indicator MACD and RSI is negative, showing a fall even deeper, with a partial objective around 31.70(Monthly Pivot) and final goal 29.70. (1st Monthly support)