Silver Mid Week Update March 2nd

www.goldtrends.net

The silver market has just about reached overhead resistance for the week at 35.08 --- as price is at the upper red channel line. Last Thursday's pullback was nothing more than a bear raid -- which is why it took place in after hours --- -but it was to no avail ----as the buying has once again exploded from there. The most likely time for a pullback this week is from Wednesday afternoon into late Thursday or Friday morning when the payroll report comes out. That has been the trend over the past few reports. Regardless of a pullback or not ---- the trend remains up solidly. If gold closes above 1442-1444 it will add fuel to the metal rally. Support is the lower red trendline in the 33.75-34.00 area. The US Dollar is barely hanging on --- and the EURO nad POUND are on the verge of a breakout to higher short term prices. As long as price is inside the red channel line -----the trend remains up.

5 comments:

Louis Cypher said...

Thanks Bill,
Much appreciated

silverto500 said...

> The most likely time for a pullback this week is from Wednesday afternoon into late Thursday or Friday morning

Well, that was spot on. Just look at the Globex raid earlier. Let's see if a bigger pullback occurs.

Randy Flagg said...

Warren...

I'm sorry to hear about the wifey thing man. Wive's always get in the way of a man's dreams hahahaha, just look at Al Bundy. Deal with it and come back man. Good luck

sierra_hpbt said...

Thank You.. great info, much appreciated.

Brian said...

Warren, i hope you come back too.