Posted by: Babu Suresh | February 21, 2009

Spot Gold & Silver – 21st Feb.09

Spot Gold 4H ChartSpot_Gold_4H_Chart_210209s

Folks, my 18th resistance, $987 was broken swiftly after leaving everyone guessing for a while. Its quite natural, last night many stops would have triggered at $1000 reaching my next resistance at $1007. Testing $1038 cannot be ruled out. For now, $987 and $960 play vital supports, subject to the performance of US stock markets next week. We see the repetition of 2005 & 2006, only under different circumstances. Lets hope the later part of 2006 is not repeated now.

Spot Silver 4H ChartSpot_Silver_4H_Chart_210209s

Well, it looks as though the white metal is taking full revenge against all the short bulls after being in somnambulism for a long time. My 18th support, $14.01 was well rewarded, breaking firmly the resistance at $14.37. If she can break $14.57, I will look forward to seeing $14.87. Again, depending on the performance of US stock market, the big guys may relent from their quest and start booking their profit, before attempting new highs. My supports being, $13.98 and $13.75.

Healthy And Wealthy Weekend

Healthy And Wealthy Trading

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