Wednesday, November 01, 2006

Silver

Here is an hourly chart showing pit trading in December silver futures. I last commented on this market here.

I think the rally from the 1055 low on September 15 is over. The market has trades a little above the 1/2 point of the current box near 1245 but I think it will soon drop back below that level. The next big move in silver will be a drop below 900.

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