The battle for $32.2 silver is over… the bulls won
Since the end of September there has been an ongoing battle in the Silver market over the price level of $32.2 – something we talked about on October 11th here.
Well this week the bulls have taken the charge and on Tuesday we got the pop through the $32.2 level with conviction closing the day at $33 and we’ve haven’t really looked back since. Silver is looking to close out the week around $35. That’s a gain on the week of over 11%!
Silver price:
Look for a bit of consolidation at these new higher level, with $32.5 the line in the sand that must hold on the downside. The next real level of resistance comes into play at $35.1, a weekly close above this level is likely to bring more buyers in to the market in a attempt to get back to $4something silver.
Related posts:
- Silver: The battle for $32.2 rages on
- And it’s HIGH-ho silver away – Silver gaps higher to over $44
- Gold Price Update: The Bulls Are Back in Town – Strong Weekly Close
- Silver will be looking to close above $32.2 this week
- Silver – Buy or Sell?
Link to this article: : http://www.goldmadesimplenews.com/silver/the-battle-for-32-2-silver-is-over-the-bulls-won-5571/
Posted by Thomas Paterson on Oct 28 2011. Filed under Silver News.
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