17-12-2007

Technical Analysis for Precious Metals
12/17/2007
(GOLD)
Gold decreased to the downside last week to touch the key support level at 787.40s. The technical directional studies showed continuation through the downside correction until the main level at 772.20 in the upcoming days.
The trading range for today will be between the key resistance at 810.00 and the key support at 760.00.
The general trend is up as far as 715.00 remains intact targets now at 819.00 and 857.00.

Support
792.00 788.60 785.20 780.90 777.60
Resistance
795.75 798.35 800.45 804.70 808.09
Recommendation
...

(SILVER)
Silver drove through the downside direction last time opening the chance for to reach the major support level in the downside correction at 13.80. In the meantime, the directional parameter indicated the downside signals for the silver today.
The trading range for today will be between the key resistance at 14.30 and the key support at 13.40.
The general trend is up as far as 13.20 remains intact targets now at 17.40 and 19.80.

Support
13.78 13.66 13.42 13.27 13.12
Resistance
14.02 14.13 14.30 14.50 14.75
Recommendation
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