Wednesday, 5 September 2012

BULLISH BREAKOUT IN MCX SILVER(INDIA) TO TEST ALL-TIME HIGHS?

Silver has broken out of a six month consolidation and is headed higher to around 65k/68k in the coming weeks. A powerful 3rd wave seems to have been confirmed and the gains can come faster than expectation.
A fall below 58300 levels would cancel the bullish view. A favourable outcome to the QE3 expectation can add further fuel to the fire.

BULLISH BREAKOUT IN SILVER-DAILY CHART CLOSE ONLY


















Mohan Raghav
CEO, Financial Markets Algorithms
Web: www.financialmarketsalgorithms.com
blog: fmatechnicals.blogspot.com/
Twitter: camohanraghav
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours

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