SIH9 March Silver Daily:Three times was the charm in silver as it broke though resistance of $10.50 December 15-16 . Prices rallied a dollar to $11.50 before the market came in and tested old resistance of $10.50 and found new support. After reaching $11.50 then cautiously testing $10.50 twice, silver has been able to push higher and break through $11.50. Reaching our first objective of $12.50 on January 30, 2009, we have seen a nice rally and have met new resistance. Profit taking at $12.50 is expected. For now silver may need a breather and try to find new support, breaking above $12.50 could attract aggressive new buyers with next upside target of $14.00.
SIH9 March Silver Weekly:
RISK DISCLOSURE: PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THE RISK OF LOSS IN TRADING FUTURES AND OPTIONS IS SUBSTANTIAL AND SUCH INVESTING IS NOT SUITABLE FOR ALL INVESTORS. AN INVESTOR COULD LOSE MORE THAN THE INITIAL INVESTMENT.