‘Gold, silver holding support well’

Gold and Silver are so far holding support well at the recent lows, said Mark Leibovit of VRTrader newsletter.

“I am still impressed by the double-bottom that was formed in the mid 1500s and the successful retest of the 26.00 low in silver when it traded at 28.01 last week. I am also impressed by the nearly uniform bearish sentiment in the metals,” he added.

If Gold can rise above $1,655 an ounce, there is a chance to return to the low $1,700s. Despite this activity, though, Leibovit remains neutral, awaiting further confirmation of strength in metals. – CommodityOnline

Tags: price of silver, Silver, silver analysis, silver futures, silver futures prices, silver news, silver price, silver prices, silver spot, spot silver

Posted by Silver Guru on Dec 23 2011. Filed under Silver Analysis. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry