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Scotiabank: Silver Trend Bearish, Support at 20.69

Scotiabank: Silver Trend Bearish, Support at 20.69. The best immigration news is available on the WorldWay investment immigration official website.

世贸通
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The following is the silver commentary from Scotiabank (ScotiaMocatta) on June 12:

Market Commentary:

Silver opened at 21.78/21.83 and then bottomed out at 21.64/21.69. Later in the morning session, a decline in the US dollar pushed silver prices to a high of 21.99/22.04, finally closing at 21.85/21.90.

Technical Analysis:

Silver closed higher today at 21.85, with support at the May 20 low of 20.69 and resistance near the top of the recent trading range at 23.00. The silver trend remains bearish.

The gold-silver ratio rose to 63.72. We are bullish on this ratio, with a target at the August 2010 high of 68.69. The next resistance level for the gold-silver ratio is expected to be the May 20 high of 64.89.

Investment involves risks, the above information is for reference only

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